: Bank stocks move lower after Fed eyes more rate hikes after June pause
Bank stocks moved mostly lower in mixed trading on Wednesday after the U.S. Federal Reserve left interest rates unchanged as expected, but stressed that another 50 basis points of rate hikes are on the table this year. JPMorgan Chase & Co JPM is down 0.5%, lower than is 0.2% drop prior to the Fed’s move. Citigroup Inc. C is down 0.2% after rising earlier in the session. Wells Fargo WFC is down by 0.8%, Bank of America Corp. BAC is down 0.6%, Morgan Stanley MS is off by 0.3% and Goldman Sachs Group Inc. GS is down 0.9%. The KBW Bank Index BKX is down 1.4%, the Financial Select SPDR Fund XLF is down by 0.3% and the SPDR S&P Regional Banking ETF KRE is down by 0.4%.
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