Stock futures extend declines after Fed outlook signals rate hikes

Stock futures opened lower Wednesday evening as investors contemplated the Federal Reserve’s latest monetary policy decision and updated projections, which signaled a quicker path to higher interest rates than previously anticipated. Contracts on the S&P 500, Dow and Nasdaq added to earlier losses.

Each of the three major stock indexes ended Wednesday’s session lower after the Fed’s new projections pointed to two rate hikes by year-end 2023. Federal Open Market Committee members also upgraded…


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