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27 Jan 2022

Dow Futures Fall by over 400 Points Following Fed Meeting on Wednesday

The Index Today

Major U.S. index futures plunged on Wednesday night following the conclusion of the Federal Reserve’s two-day meeting which heralded several interest rate hikes for 2022 with the first of them scheduled to come into effect in March.

S&P 500 futures and Nasdaq 100 futures plummeted, with Dow Jones Industrial Average futures slipping by over 400 points. The S&P 500 index dropped by 0.2% at 4,349.93, and the Nasdaq Composite Index fell short below 0.1% to 13,542.12. The Dow Jones Industrial Average dipped by 0.4% to 34,168.09.

Trading remained volatile but was exacerbated by Fed decisions regarding monetary policy. Although no concrete confirmations have been forthcoming, Chairman Powell revealed that the Fed “was of a mind” to increase rates for the first time since 2018 after its March meeting. This has led to speculation that as many as four interest rate hikes could be implemented this year.

©Photo: AP/Craig Ruttle

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