Fed Takes Hawkish Stance as Major US Indices Close Lower

(CNA, New York, 17th - Comprehensive International News) The U.S. Federal Reserve maintained interest rates unchanged but substantially revised upward its inflation projections in the dot plot, signaling that officials anticipate possible rate hikes before year-end. As a result, all three major U.S. stock indices closed lower today, with the dollar strengthening.

The Dow Jones Industrial Average fell 507.12 points, or 0.98%, closing at 51,492.55.

The S&P 500 Index dropped 91.25 points, or 1.21%, to close at 7,420.10.

The Nasdaq Composite Index declined 354.69 points, or 1.34%, ending at 26,021.66.

The Philadelphia Semiconductor Index rose 182.85 points, or 1.38%, closing at 13,477.07. (Translator: Gloria Kao / Reviewer: Chen Cheng-chien) 1150618