Power Breakfast: Dow Jumps Over 400 Points After Fed Hikes Interest Rates By 75 Basis Points

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Zee Business Video Team | Updated: July 28, 2022 08:55 am

The US Federal Reserve has increased the interest rate by 75 basis points. For the second time in a row, the Federal Reserve has raised interest rates. Fed Chairman Jerome Powell has denied the economic slowdown. After the decision of the Federal Reserve, there was a great rally in the US markets. Dow Jones closed up by 436 points and Nasdaq by 470 points. In the US markets, the SGX Nifty also rose 100 points to cross 16750.