By Angus Berwick and Krystal Hur
The Fed market storm has abated somewhat.
Stock indexes are clawing back some ground, after the Federal Reserve triggered a steep selloff Wednesday by suggesting interest rates could stay higher next year than investors expected.
On Thursday, shares in hard-hit companies like Amazon recovered somewhat. Markets in Asia and Europe fell, though not as severely as in the U.S.
Hot on the Fed's heels, a flurry of other central-bank rate announcements are rolling in. The Bank of Japan held its policy rate, as did the Bank of England. Others, including Sweden's Riksbank, cut rates.
In the U.S., markets also were contending with an unexpected turn in Congress, where a deal to keep the government open was upended by an Elon Musk tweet. And revised data showed U.S. growth was stronger than expected in the three months through September, clocking in at 3.1%.
In recent trading:
Major indexes gained, with the Dow industrials, S&P 500 and Nasdaq Composite all up more than 0.4%.
The 10-year Treasury yield topped 4.55%. On Wednesday, it settled at 4.493%, the highest since late May.
Bitcoin edged lower, trading near the $100,000 mark.
Benchmark stock indexes in Hong Kong, Shanghai and Tokyo all closed down less than 1%. The Stoxx Europe 600 fell more steeply.
Write to Angus Berwick at angus.berwick@wsj.com and Krystal Hur at krystal.hur@wsj.com
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
December 19, 2024 12:06 ET (17:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
