The US stock market recorded a decline in the trading session on Thursday after major indexes were under heavy selling pressure in the previous session.
This fall occurred due to concerns about inflation rates that have returned to haunt Wall Street.
In terms of the movement of major indexes today, the S&P 500 fell 1.36%, the Nasdaq Composite fell 1.46%, while the Dow Jones plunged 1.63% to its lowest level since November last year.
Market sentiment became uncertain following high Producer Price Index (PPI) data and the Federal Reserve's (Fed) inflation forecast that is increasing.
Turning to the Federal Open Market Committee (FOMC) meeting for March, policymakers agreed to keep interest rates stable at 3.5% - 3.75%.
The decision reflects the Fed's firm stance in rejecting President Donald Trump's insistence that interest rates be cut immediately.
Investors had previously expected the central bank to keep interest rates on hold throughout the year, although the Fed signaled that a 25 basis point cut was imminent.
As for individual stock performance, Micron Technology shares fell 5%, even as the company reported a sharp increase in its quarterly earnings.
