Market Indexes Bounce Back From the Fed's Rate Hike
The Dow lost 630 points on the Fed's rate hike. A day later, chip stocks took most of it back.
Overview
Wednesday's rate hike knocked more than 630 points off the Dow. Thursday morning, Wall Street decided it had overreacted, and chip stocks led the apology tour.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 1.4% as of 11:24 a.m. ET, the S&P 500 (SNPINDEX: ^GSPC) added 0.9%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) gained 0.4%. Twenty of the Dow's 30 components traded higher at this moment.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.