Markets may fall sharp; FED hikes interest rates by 25bps
DSIJ Intelligence / 15 Dec 2016
As expected the December FED meet has finally concluded with a 25 bps rate hike. The Federal Reserve raised its benchmark interest rate for the second time since the financial crisis of 2008. However, the FED Chairman indicated possible rate hikes to come faster than expected in 2017.
As expected the December FED meet has finally concluded with a 25 bps rate hike. The Federal Reserve raised its benchmark interest rate for the second time since the financial crisis of 2008. However, the FED Chairman indicated possible rate hikes to come faster than expected in 2017.
The US markets on December 14 closed lower, the Dow Jones industrial average closed about 119 points lower. The S&P 500 dropped about 0.8 per cent and the Nasdaq Composite slipped 0.5 per cent.
The Fed cited that the steady growth of employment and other economic measures are the good indicators of a prospering economy and has raised interest rates. On the other hand, the Indian markets are expected to fall. SGX Nifty as at 9 am is down by 60 points. It won’t come as a surprise if Sensex loses over 300 points on an intraday basis.
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