(New York, NY) — The market is closing lower as fears of a recession grow. This comes after the Federal Reserve hiked interest rates by three-quarters of a percentage point yesterday. Experts worry further rate hikes will push the U.S. economy into a recession. At the closing bell, the Dow Jones Industrial Average lost 107 points to 30-076. The S&P 500 fell 31 points to 37-57. The Nasdaq dropped 153 points to 11-066.
Trip.com was one of day’s biggest gainers, climbing up more than four-percent. Meantime, Caesars Entertainment was one of the session’s biggest losers, dropping more than nine-percent.