Intraday volatility
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All three major US stock indexes fell more than 1%
According to reports, the Federal Reserve announced a 25 basis point hike in interest rates, causing intraday volatility in US stocks. The late afternoon plunge led to a collective decline, with the Dow down 1.63%, the Nasdaq down 1.6%, the S&P 500 down 1.65%, most large tech stocks down, Tesla down more than 3%, and Google, Amazon, and Meta Platforms all down more than 1%; Interpretation of this information: On June 16, 2021, the Federal Reserve declared an increase in interest rates by 25 basis points, leading to a stir…