It could have been worse.
The US Federal Reserve is poised to raise interest rates next week for only the third time since the financial crisis after the latest job numbers for the world’s largest economy beat expectations.
All three main measures of the health in the stock market are at record levels.
The US Federal Reserve on Wednesday raised interest rates for the first time in a year, and only the second time since the 2008 financial crisis. The US central bank also predicted three further rates increase in 2017, up from previous expectations of two rate hikes.
The Federal Reserve announced it would hold US interest rates unchanged for at least another month on Wednesday.
Financial markets have become over reliant on central banks, a leading international body said on Sunday, as investors prepared for the latest announcement on interest rates from the US Federal Reserve.
The dollar went up. The dollar went down again. Share prices dropped. Share prices recovered. Yes, it was time for Wall Street to play one of its favourite games: interpreting a speech by Janet Yellen.
The Federal Reserve decided to hold steady and not raise US interest rates for at least another two months at its latest meeting, arguing that near-term risks to the US economy have diminished.