Stocks pared their gains and Treasury yields rose after the Fed said it will raise its benchmark interest rate. Here's a look at market reaction, in four charts.
Stocks pared their gains and Treasury yields rose after the Federal Reserve said it will raise its benchmark interest rate by one-quarter of a percentage point.
Investors have been closely watching as the U.S. central bank prepared to raise rates for the first time since 2018 in an effort to tamp down high inflation. Fed officials also penciled in a series of additional rate increases this year.The yield on the benchmark 10-year U.S. Treasury climbed to 2.230%, from 2.188% beforehand, according to Tullett Prebon.
Oil prices crept lower. Brent crude, the international benchmark, traded at $95.36 per barrel, from about $95.80 earlier. And the U.S. dollar strengthened. The WSJ Dollar Index, which measures the greenback against a basket of 16 currencies, rose to 91.80. It was at 91.62 moments before the decision.
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