US stocks end lower on trade tensions, Fed rate hike

New York (AFP) – Wall Street stocks finished lower on Wednesday after the Federal Reserve lifted interest rates and signaled a more aggressive pace of additional hikes amid a strengthening economy.

Stocks were also pressured by revived trade war fears on a report that President Donald Trump’s administration would proceed with tariffs on Chinese goods. 

At the closing bell, the Dow Jones Industrial Average was down 0.5 percent at 25,203.92.

The broad-based S&P 500 shed 0.4 percent to 2,775.74, while the tech-rich Nasdaq Composite Index dipped 0.1 percent to 7,693.89, retreating from Tuesday’s record.