Fed decision boosts Wall Street as Tupperware stock plummets more than 40 percent

new York Investors had been waiting eagerly for the interest rate decision by the US Federal Reserve and had held back in advance. Then it was clear: The Fed is fighting persistently high inflation with the fourth major rate hike in a row. It raised the key interest rate again by three-quarters of a percentage point on Wednesday – to the new range of 3.75 to 4.00 percent.

Equity markets reacted positively to the news. The broad S&P 500, the leading index Dow Jones and the technology-heavy Nasdaq shot up significantly immediately after the interest rate decision. The Dow Jones gained around 300 points in just a few minutes and is up a good one percent. The S&P 500 gained 0.5 percent and the Nasdaq rose 0.3 percent.