While you were sleeping: Wall St slides from record highs

Thu, 21 Sep 2017

By Margreet Dietz Sept. 22 (BusinessDesk) - Wall Street weakened, declining from record highs, as investors assessed the impact of the Federal Reserve’s intentions to raise interest rates once more this year. On Wednesday, at the end of a two-day meeting, the Federal Open Market Committee flagged that it still plans another rate hike in 2017, while it also announced it will start unwinding its balance sheet next month. “The meeting was definitely more hawkish than what the market was anticipating,” Mary Ann Hurley, vice president in...

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