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U.S. stocks face downside risk after the Fed went ahead with an interest-rate hike to battle high inflation after bank failures earlier this month, according to SoFi's Liz Young.
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Federal Reserve hikes its key interest rate a quarter point CBS NewsFed raises interest rates a quarter point despite recent banking turmoil Fox BusinessThe banking meltdown may have done the Fed's work for it CNNOpinion | The Fed Tries to Thread the Needle on Interest Rates The Wall Street JournalWhy Are Stocks Down? InvestorPlaceView Fu
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There had been widespread uncertainty about whether the Federal Reserve would continue raising rates after turmoil in the banking industry.
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U.S. stocks finished sharply lower in volatile trade on Wednesday after the Federal Reserve raised interest rates by another 25 basis points, but indicated rate cuts this year aren't expected.
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First Republic Bank stock drops after the Federal Reserve's policy meeting, as investors wait for further support for the bank; PacWest and MoneyLion fall.
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U.S. stocks close higher as regional banks rally ahead of Fed rate decision
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