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NEW YORK AP 鈥?Stocks gave up a big rally and took a dive in afternoon trading Wednesday after the Federal Reserve raised interest rates again and signaled its likely to keep raising them next year. The market finished at its lowest level since September 2017.The U.S. central bank said it expects to increase interest rates at a slightly slower pace next year, and also said it isnt planning any changes in the gradual shrinking of its large bond portfolio. But investors appeared to hope the Fed would unveil a sharper slowdown in interest rate hikes and other credit tightening policies because economic growth is likely to slow down.The Dow Jones Industrial Average swung from a gain of 381 points right before the Feds decision was announced at 2 p.m. Eastern time to a closing loss of 351 points. The index is down almost 9 percent in December.The rate increase, to a range of
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stanley uk sending yields sharply lower. The yield on the 10-year Treasury note fell to 2.77 percent from 2.84 percent immediately before the Feds announcement and 2.82 late Tuesday. Thats a substantial move for that benchmark lending rate. Bonds yields are benchmarks for many kinds of long-term loans including mortgages.The Fed is now forecasting two increases in rates in
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