Fed’s monetary policy decision is still in the spotlight - Thursday Review, June 17

Fed’s monetary policy decision is still in the spotlight - Thursday Review, June 17

In the US, tech stocks gained strength

The US

Wall Street closed mainly lower, as investors were still processing the Fed’s unexpectedly hawkish view on monetary policy from Wednesday, which projected the first post-pandemic interest rate hikes in 2023. USA30 fell 0.62%, while USA500 lost 0.04%. TECH100 added 0.87%.

Crude oil fell 2.65% to $70.24 per barrel.

Gold was down 4.74% to $1,773.20 a troy ounce.

The Dollar Index was up 0.73% at 91.877.

Asia and Australia

Markets were mostly down, with traders continuing to focus on the latest US Federal Reserve policy decision that indicated a pickup in the expected pace of its asset tapering.

Japan225 slid 1.14%.

HongKong45 slipped 0.05%.

Down under, Australia200 edged 0.30% lower, even though the employment data for May was better-then-expected. The unemployment rate fell to 5.1%.

Europe

Stocks closed higher, despite the overall global caution displayed by the other markets regarding Fed’s announcement. Germany30 rose 0.11%, driven by gains in the Insurance, Retail, and Pharmaceuticals & Healthcare sectors. France40 gained 0.21%, reaching a 5-year high.

Brent oil fell 2.62%, trading at $72.44 a barrel.

EUR/USD was down 0.70% to 1.1910.

Sources: investing.com, reuters.com

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