[Breaking] New York Stock Market Closes Lower Amid High-Intensity Tightening... Nasdaq Down 1.79%

[Asia Economy New York=Special Correspondent Joselgina] Major indices of the U.S. New York stock market closed lower on the 21st (local time) as the central bank, the Federal Reserve, raised interest rates by 0.75 percentage points for the third consecutive time and indicated through the dot plot that high-intensity tightening would continue.

On this day in the New York stock market, the Dow Jones Industrial Average closed down 1.70% from the previous session. The S&P 500 index, centered on large-cap stocks, fell 1.71%, and the Nasdaq index, focused on technology stocks, closed down 1.79%.

Government bond yields soared. The yield on the U.S. 2-year Treasury note, which is sensitive to monetary policy, surpassed 4.1% immediately after the Fed's monetary policy decision announcement. This is the highest level since 2007.

The U.S. dollar showed strength. The Dollar Index, which represents the value of the dollar against the currencies of six major countries, rose nearly 1%, surpassing the 111 level.

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