Fed aftermath weighs on Wall Street

Frankfurt Economic worries about shattered hopes of an end to US interest rate hikes drove Wall Street into the red on Friday. The Dow Jones index of standard values ​​closed 0.9 percent lower at 32,920 points. The tech-heavy Nasdaq fell one percent to 10,705 points. The broad S&P 500 lost 1.1 percent to 3852 points.

At its most recent meeting, the US Federal Reserve decided to slow down the pace of interest rate hikes. At the same time, she emphasized that the fight against inflation is not over yet. “There is concern that if the Fed continues to hike rates, the economy will continue to slow,” said Robert Pavlik, portfolio manager at wealth manager Dakota Wealth. The US purchasing managers’ indices published on Friday would have further strengthened the fears. “The speed at which the numbers are declining is worrying.”