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The Dow Jones closed 0.7% lower on Wednesday, while the S&P 500 and the Nasdaq ended almost 0.1% and 0.4% higher after the Federal Reserve kept rates unchanged for the first time since March 2022 as expected. Fed officials need time to assess policy stance on how it has affected inflation and the economy while hinted two more rate hikes by the end of the year, dashing hopes that the central bank would hold rates steady for longer, or even cut in the near future. Also, during the regular press conference, Fed Chair Powell said no decision for July has been made yet and the conditions needed to get inflation down are coming into place. Elsewhere, European equities rose on Wednesday, with the Euro Stoxx 50 index up 0.6%, helped by gains in the mining sector on expectations of demand revival in top consumer China.
Summary for 15.06.2023
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