Dow, S&P 500, Nasdaq: US stock exchanges lose after Fed decision

Frankfurt Wall Street sentiment remains subdued a day after the US Federal Reserve rate hike. The Dow Jones index fell 0.4 percent to 30,077 points on Thursday. The broader S&P 500 fell 0.8 percent to 3758 points. The index of the Nasdaq technology exchange fell by 1.4 percent to 11,067 points.

As expected, the Fed had raised interest rates by 75 basis points for the third time in a row and signaled further hikes by the end of the year. “In the future, the market will be overly sensitive to any type of Fed commentary and data,” said Cetera Financial investment expert Brian Klimke. So the coming period could be stormy, but there is also reason for cautious optimism. “Valuations are a lot better than they were at the start of the year, earnings estimates have been cut making them easier to beat.”