The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Overnight

Lo60° Mostly Cloudy

Wednesday

Hi86° Slight Chc Sprinkles

Wednesday Night

Lo63° Slight Chc Showers

Thursday

Hi81° Slight Chc Showers

Thursday Night

Lo61° Partly Cloudy

Friday

Hi81° Mostly Sunny

Friday Night

Lo55° Mostly Clear

Saturday

Hi82° Sunny

Saturday Night

Lo57° Mostly Clear

Sunday

Hi85° Sunny

Wall Street

Send to Kindle
Print This

NEW YORK (AP) — Higher interest rates are coming. And they are coming sooner than you think. That’s the message investors took away from the Federal Reserve on Wednesday. In response, they sent stocks and gold prices lower and bond yields sharply higher. The Dow Jones industrial average lost 114.02 points, or 0.7 percent. The Dow fell as much as 209 points before erasing some of its loss.

The Fed voted to cut its monthly bond purchases from $65 billion to $55 billion, in line with what analysts were expecting. Despite severe winter weather in January and February, the Fed said economy had recovered enough for it to continue reducing the bond buys, which are aimed at keeping long-term interest rates low.

View my optionsorSign in