Wall Street Closing

NEW YORK, 16 Rabi’I, 1438,December 15, 2016, SPA– U.S. stocks closed lower Wednesday after the Federal Reserve (Fed) raised interest rates for the second time in a decade.
In U.S. economic news, the Federal Open Market Committee raised its target range from 0.25 percent to 0.5 percent to a range of 0.5 percent to 0.75 percent.
The dollar rose 1.1 percent against a basket of currencies. Light sweet crude oil dropped 3.7 percent to $51.04 per barrel on the New York Mercantile Exchange, while gold futures declined $20.70 to $1,143.00 per ounce.
The Dow Jones industrial average fell 106, or 0.53 percent, to 19,806. The broader Standard & Poor’s 500 index dropped 18.44, or 0.81 percent, to 2,253.28. The technology-heavy Nasdaq composite index decreased 11, or 0.2 percent, to 5,452.
–SPA
10:32 LOCAL TIME 07:32 GMT