The S&P 500 fell 0.5% in a down day for U.S. stocks. The Dow was the biggest loser with a 0.8% slide, and the Nasdaq lost 0.2% on the day. Futures are also down in today's premarket with S&P 500 contracts down 0.4%.
Rolling Back
Yesterday's Fed meeting revealed the central bank is accelerating its plan to roll back its easy money policies. According to statements released yesterday, the Fed is aiming for a target benchmark rate of 0.6% by the end of 2023, sooner than they projected in March.
The Hawkish surprise put markets in a dour mood and we're headed for a second consecutive down day on the back of the unwanted news.
