Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023.
The U.S. central bank on Wednesday kept its key lending rate steady, as expected, but indicated another hike is possible as it and other central banks tighten policy to tame inflation.
Major equity indices in Europe and on Wall Street fell more than 1% on concerns higher rates will curb growth.
/FRXMirroring a rise in Treasury yields, Germany's 10-year government bond yield touched a fresh six-month high of 2.73% and Britain's 10-year gilt yield rose to 4.29% after falling on Wednesday to its lowest since July.
Gold extended its decline for a third straight day as the dollar and Treasury yields rallied on the Fed's warning of a possible additional rate hike.
Persons:
Brendan McDermid, there's, Michael Arone, Jack Ablin, it's, John Hardy, Hardy, Brent, Xie Yu, Marguerita Choy, Tomasz Janowski, Deepa Babington
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New York Stock Exchange, REUTERS, Federal Reserve, Swiss, Bank of England, Swiss National Bank, Fed, State Street Global Advisors, Reuters, Treasury, Cresset Capital Management, Saxo Bank, Dow Jones, Nasdaq, Sterling, Reuters Graphics, U.S, West Texas Intermediate, Thomson
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