US stocks, dollar gain as Fed hikes interest rates
US Fedral reserve
New York - Arab Today
US stocks and the dollar rose after the Federal Reserve raised benchmark interest rates Wednesday for the first time since 2006 and promised a gradual approach to future rate hikes.
Wall Street stocks, which had been modestly positive prior to the 1900 GMT announcement, added to those gains. The dollar advanced against the euro and yen, reversing the trend in foreign exchange markets prior to the decision.
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