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Dow Jones slips into negative territory after Fed Dot Plot does not imply much change

Adding to the previous update noting the unchanged policy announcement from the Fed and the rebound that produced in the USD/JPY, the US stock markets all lurched lower on the news. The Fed has pretty much maintained their language from the previous statements but with a few tweaks in terms of the dot plot here and there. So, US stocks turned lower on this as the dollar rose and US yields are a little higher now too, by around 0.05%. The Nasdaq 100 and S+P 500 have now further pared their earlier gains and the immediate reaction in the Dow Jones saw that fall into the red, but it was already under a degree of downside pressure anyway. The Dow Jones dropped back to below 38,700 on the Fed news, it has now pared that move, currently trading at, 38,720

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