Wall Street indices closed lower on Wednesday as Federal Reserves last meeting raised expectations that the central bank will move faster to raise interest rates to fight inflation.
The S&P 500 and Dow Jones Industrial Average dropped over 1 percent, while Nasdaq and Russell 2000 fell over three percent. Fall in major technology stocks weighed on the market.
US stock markets closing on Wednesday:
The S&P 500 fell 92.96 points, or 1.9%, to 4,700.58.
The Dow Jones Industrial Average fell 392.54 points, or 1.1%, to 36,407.11.
The Nasdaq fell 522.54 points, or 3.3%, to 15,100.17.
The Russell 2000 index of smaller companies fell 74.87 points, or 3.3%, to 2,194.
US stock market indices this week:
The S&P 500 is down 65.60 points, or 1.4%.
The Dow is up 68.81 points, or 0.2%.
The Nasdaq is down 544.80 points, or 3.5%.
The Russell 2000 is down 51.31 points, or 2.3%.
–With agency inputs
First Published: IST