Global stocks fell after the decision of the Fed. The Dow closed over 530 points lower on Wednesday, while the S&P 500 and Nasdaq 100 lost 1.6% each, as investors weighed the comments from Fed Chair Powell and were worried about turmoil in the banking sector that could slow the economy. The Fed raised interest rates by 25 basis points bringing the US reference rate to 4.75% - 5%, pushing borrowing costs to new highs since 2007, to fight elevated inflation and signaled greater uncertainty about future hikes.
Domestic stocks kept green but liquidity remained low. The average overnight VND lending rate in the session of 20/3 fell to 2.7% from 3.4% previously. This is the lowest overnight interest rate since mid-August 2022. Up to now, no banks have listed the interest rate of 9.5%/year while the rate of 9%/year has also gradually disappeared.
- Domestic and international news
- The Fed raised interest rates by 25 basis points at its March 2023 meeting
- Technical view and recommendations #KSB
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