Alva Review-Courier -

Stocks skid to 15-month low after Fed raises rates again

 

December 20, 2018



NEW YORK (AP) — Stocks gave up a big rally and took a dive in afternoon trading Wednesday after the Federal Reserve raised interest rates again and signaled it's likely to keep raising them next year. The market finished at its lowest level since September 2017.

The U.S. central bank said it expects to increase interest rates at a slightly slower pace next year, and also said it isn't planning any changes in the gradual shrinking of its large bond portfolio. But investors appeared to hope the Fed would unveil a sharper slowdown in interest rate hikes and other credit tightening policies b...



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