Investors deliberated the likelihood of a recession as policymakers signaled they’ll continue to raise rates from here.
U.S. stock futures fell on Wednesday night following a volatile session in the major averages as traders weighed another large rate hike from the Federal Reserve.
Dow Jones Industrial Average futures declined by 16 points, or 0.05%. S&P 500 and Nasdaq 100 futures dipped 0.19% and 0.31%, respectively. During the regular session on Wednesday, the Dow Jones Industrial Average slid 522 points, or 1.70%, despite jumping more than 300 points earlier in the day. The S&P 500 shed 1.71%, and the Nasdaq Composite slumped 1.79%.
The Federal Reserve passed through a third consecutive 0.75 percentage point increase. Policymakers pledged to continue raising rates as high as 4.6% in 2023 before pulling back in the fight against inflation, spurring fears on Wall Street that the economy could tip into a recession.
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