The Market Wrap Up
The U.S. based indices closed lower this afternoon on the heels of the FOMC rate hike of 25 basis points. Asian stocks closed mixed in the overnight session as equities in Europe were lower this morning. As the FOMC’s decision to raise rates resonated in the markets, traders saw the strength in the U.S. dollar continue to multi-year highs.
Continued commentary from crude oil ministers in intraday trading as it relates to a follow through to the production cut agreement contributed to oil volatility.