New York Stock Market Falls on Fed Rate Hike and Wash's Hawkish Remarks…Dow Down 1.2%

New York Stock Market Falls on Fed Rate Hike and Wash's Hawkish Remarks…Dow Down 1.2%

On the 16th (local time), the U.S. New York stock market fell across the board, influenced by the Federal Reserve's (Fed) benchmark interest rate hike and Fed Chairman Kevin Wash's hawkish remarks.

On this day, the Dow Jones Industrial Average closed down 631.21 points (1.21%) from the previous trading day, trading at 51,461.90.

The Standard & Poor's (S&P) 500 index closed down 33.92 points (0.45%) from the previous trading day at 7,551.81, and the technology-heavy Nasdaq Composite Index each ended the session down 3.15 points (0.01%) from the previous trading day at 25,978.43.