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Felicia Tan
June 12 09:07

US stock markets showing a 3% decline after Fed meeting

Major U.S. stock indices on Thursday fell within 3% after the U.S. Federal Reserve (FRS) is expected to keep the discount rate from zero to 0.25% and worsened macroeconomic forecasts, according to the data of exchanges.
As of 21:37 SGT time, the Dow Jones Industrial Average (DJIA) index has fallen by 2.89%, to 26210.46 points, the NASDAQ hi-tech index went down by 2.12%, to 9808 points, the S&P 500 broad market index fell by 2.48%, to 3110.9 points.
Traders are inclined to avoid risk after the results of the June meeting of the Federal Reserve, which the day before corrected the forecast of the U.S. GDP dynamics before the fall by 6.5% from the previous growth of 2%, and the unemployment rate - to 9.3% from 3.5%. The Fed also expected to maintain the base interest rate, noting that it does not plan to increase it in 2020-2022.
Risks of a "second wave" of coronavirus also restrain investor sentiment.