Part 3/5:
Stock markets initially rallied on the Fed’s decision, with US indices reaching their best levels of the day. However, this optimism was short-lived; after comments from Fed officials and related news, markets experienced declines, with the S&P 500 dropping about 0.25% and a total fall of roughly 1% from intraday highs.
On the corporate front, major tech firms Microsoft and Meta reported better-than-expected earnings after market close. Microsoft’s shares surged by approximately 7%, while Meta’s stock increased nearly 10%, providing some buoyancy to the market atmosphere.