Stock Market Update
16-Sep-26 15:30 ET
Post-FOMC losses widen as Treasury yields rise
Dow -741.38
at 51351.73,
Nasdaq -79.65
at 25922.97,
S&P -53.97
at 7531.76
[BRIEFING.COM] The S&P 500 (-0.7%), Nasdaq Composite (-0.4%), and DJIA (-1.4%) are extending their post-FOMC selloff as the market enters the final half-hour of the session.
The Treasury market listened to what Fed Chair Kevin Warsh said regarding above-target inflation, and its initial reaction implies that there is a belief that the inflation fight isn't a one-and-done rate-hike kind of thing. The 2-year note yield spiked from 4.60% shortly before the policy announcement at 2:00 p.m. to 4.73% as of this writing. The 10-year note yield went from 4.95% to 5.02%.
In turn, stock prices have fallen as rates have risen, cognizant that today's action and the chair's comments fall into the camp of being a "hawkish hike" (i.e., there is more to come), as opposed to a "dovish hike" (i.e., there is a good chance that we are done).
