Alexa

Stocks fall after Federal Reserve announcement

Stocks fall after Federal Reserve announcement

Stocks are falling after the Federal Reserve said it plans to buy $600 billion in Treasurys to stimulate the U.S. economy.
Investors had been waiting throughout the day to see exactly how big the bond-buying program would be. The Fed's aim is to drive interest rates lower in an effort to spark spending and lending.
The spending program falls largely inline with analysts' expectations.
Stocks had been rallying over the past two months, in part, due to growing expectations the Fed would provide a lift to the sluggish economy.
The Dow Jones industrial average is down 66, or 0.6 percent, at 11,124. The S&P 500 is down 7, or 0.6 percent, at 1,186, while the Nasdaq composite is down 18, or 0.7 percent, at 2,516.


Updated : 2021-01-21 21:41 GMT+08:00