Media Shares In The Red As Stocks Sink On Recession Fears After Fed’s Biggest Interest Rate Hike Since 1994
Shares resumed a downward trajectory today after a brief respite as markets digested a major rate hike by the U.S. central bank and comments by Fed chief Jerome Powell. A decisive Fed move to raise interest rates by three quarters of a percentage point boosted shares briefly Wednesday but optimism faded quickly with major indexes all down sharply.