Wall Street falls after Fed statement, energy shares tumble
Updated : November 09, 2018 07:30 AM IST
The US central bank said after its two-day meeting that strong job gains and household spending were keeping the economy on track but business investment "moderated from its rapid pace earlier in the year," creating a possible drag on future economic growth.
Aside from the comment about business investments, the Fed statement was largely as expected and suggested to investors that the Fed's next rate hike would be in December.
The three indexes had all risen 2 percent in the previous day's session due to a relief rally once the US midterm congressional elections were in the rearview mirror.
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