Stock Market Today: Dow Gains as Fed Raises Rates, Alibaba and JD.com Soar
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Updated March 16, 2022 4:14 pm ET / Original March 16, 2022 5:11 am ET
After a brief bout of weakness, the stock market ended the day sharply higher after the Federal Reserve raised interest rates by a quarter-point and signaled that another six could follow.
It was a wild day for the Dow Jones Industrial Average, which gained more than 500 points, gave back all those gains before finishing up 519 points, or 1.6%. The S&P 500 ended up 2.2%, while the Nasdaq Composite gained 3.8%.
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