The Fed announced on Wednesday afternoon that they will increase rates and will also increase rates next year.
The Dow immediately dropped 350 points in 10 minutes.
The market was up 370 points and dropped to 20 points up.
UPDATE– Dow dropped 470 points in one hour.
UPDATE: 570 Points
UPDATE: Dow down 670 points from daily high before announcement.
UPDATE: (1 hr. 10 minute later) Dow down 770 points.
UPDATE: The Dow finished -350 points or down 720 points since 2 PM when Jerome Powell started talking.
Market was down at one point by 894 points
Holy crap!! Somebody get this guy off the stage! Dow drops 894 points since Fed Chairman Powell took the stage!!
The Fed is clearly a political machine not working in the interest of President Trump or the American people. As a result of Fed policies Americans are being bound with massive interest payments on Obama debt for years to come.
The Dow Jones shrank by 3,200 points since the Fed’s Jerome Powell’s insidious comments in early October to continue to increase interest rates.
The DOW reached another all-time high on October 3rd reaching 26,829. It was up for the 103rd time since Donald Trump was elected President and 46% since the November 2016 election.
This was clearly too much for the Fed’s Powell who then scared investors with his message that he will raise rates well into next year.
On Monday after the president’s tweet the Fed announced it would likely raise rates — The Dow immediately dropped another 507 points.
1/8th of the US economy is gone thanks to the Federal Reserve.
$4 Trillion in Wealth has been erased!
On Tuesday Stephen Moore said if the Fed raises rates on Wednesday they should all be fired.
Moore was right............. Video