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HomeBusinessWall Street closes lower after Fed rate hike

Wall Street closes lower after Fed rate hike

US stocks closed lower on Wednesday after the Federal Reserve raised its key interest rate by 25 basis points to a target range of 3. 75-4 percent. The Nasdaq Composite edged down 3. 16 points to 25, 978. 42, while the Dow Jones Industrial Average dropped 631. 21 points, or 1. 21 percent, to 51, 461. 90.

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