Comment on Why J.C. Penney, KB Home, and Boston Scientific Slumped Today

Why J.C. Penney, KB Home, and Boston Scientific Slumped Today

Wednesday was a down day for the stock market, as investors once again tried to put major news into a longer-term context. The Federal Reserve's Open Market Committee voted to raise short-term interest rates by a quarter percentage point as expected, and it adopted a generally hawkish tone that suggests that future rate increases could come slightly more quickly than most of those watching the central bank had expected.

 

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