Fed hikes rates, stocks wobble: S&P 500 set for losing week
📡 CNBC Top News · 1 min read ·
Part of composite article Stocks Slide as $7 Trillion in Options Expire and Bond Yields Climb View full article →
The S&P 500 is heading for a losing week after the Federal Reserve raised interest rates for the first time in three years.
On Wednesday, the Fed announced its first rate hike since 2018. A rate hike means borrowing money becomes more expensive. This can slow down the economy and push stock prices lower.
On Thursday, the major averages rose during regular trading. But the S&P 500 is still on track to end the week with a loss.