Dow tumbles after Fed raises interest rates for first time since 2023

By CBS News

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The Dow Jones closed down around 1.2% on Wednesday after the Federal Reserve announced its first interest rate increase since July 2023. CBS News' Kelly O'Grady and Aaron Navarro report. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries. Subscribe to the CBS News YouTube channel: https://youtube.com/cbsnews Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram: https://instagram.com/cbsnews/ Like CBS News on Facebook: https://facebook.com/cbsnews

Tags: Politics, Federal Reserve, Kevin Warsh, Inflation, Interest Rates, Economy, Money, Stock Market, Gas Prices, Iran, Middle East, Donald Trump, CBS News 24-7 Clips, U.S., MoneyWatch, CBS News