Wall Street falls after rate hike
Global markets reported a decline in US stocks after the Federal Reserve raised interest rates for the first time in over three years, in an effort to curb inflation caused by rising oil prices amid the US-Israeli conflict with Iran. Despite the market rally prior to the announcement, the Dow Jones Index dropped nearly 600 points (1.17%), the S&P 500 fell by 0.43%, and the Nasdaq, which had rebounded before the decision, experienced a slight decline. Meanwhile, European markets rose as expectations of interest rate hikes continued, while Gulf equities saw limited declines. Japanese stocks increased for the first time in four sessions, supported by rising Japanese exports, despite the impact of higher energy costs.
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