'End of an era': Markets react to US rate increase

Unanimous vote to hike rate by 0.25%

Daniel Flynn
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A rise in US interest rates - the first increase in nine years - has been welcomed by the market, though some have cautioned the move was unwise.

The S&P 500 finished 1.5% higher on 16 December following the Federal Reserve's announcement to hike rates by 0.25% to between 0.25% and 0.5%. Overnight in Asia, Japan's Nikkei 225 climbed 1.6% to close at 19,353 points. The US dollar also rose against all major currencies following the Federal Open Market Committee's (FOMC's) unanimous verdict. The rate rise marks the first time the Federal Funds Rate has moved from the record lows of 0%-0.25% since the darkest days of the financial crisis in December 2008. In a statement, the FOMC said: "The committee judges that there has bee...

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