Wall Street shrugs off Fed move

Is that all you got Fed? Come on, raise the rates some more, we dare you


The attempt by the 11-month risky asset bull run to navigate an inevitable hurdle got off to an inauspicious start on Friday.

Stocks and commodities stumbled in Asian trading and the dollar found favour after traders were caught off guard by the US Federal Reserve’s announcement that it would raise the discount rate it charged banks.

However, a more stoic response from New York traders saw Wall Street reverse early losses and hit a four week high.

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