Dow Closes 270 Points Lower as Post-Fed Selloff Continues

The message-Fed hangover sustains.

Stocks ended up lower and also Treasury returns climbed Thursday, wrapping up a 2nd day of weak market activity activated by theFederal Reserve Read today’s full markets roundup here.

The Fed the other day held interest rates steady, however authorities showed that they anticipate to maintain them raised for longer than formerly expected. All 11 markets of the S&P 500 ended up in the red.

“In this environment, with higher rates for longer, it’s more difficult to achieve a soft landing. You would expect more declines in growth,” stated Karim Chedid, a financial investment planner at BlackRock.

Meanwhile, in huge bargain information: Cisco announced plans to acquire cybersecurity company Splunk for $157 per share in cash money, or $28 billion.

united state supplies pulled back. All 3 significant indexes dropped; the Nasdaq Composite was down 1.8%, while the Dow industrials went down 1.1%, or 370 points. All 3 …