The Fed offered little relief for investors overnight. Despite lifting rates by 75bps as expected, Jerome Powell's hawkish comments following the decision spooked the Dow Jones into a 505-point loss (-1.55%) finishing just off lows. At best it was up 419 points following the rate rise, then dropped over 930 points on Powell's comments. The S&P 500 fell 96 points (-2.5%), and the Nasdaq took the biggest hit, falling 366 points (-3.4%). In Europe, Stoxx 50 -0.8%, FTSE -0.6%, CAC -0.8%, and DAX -0.6%. SPI Futures are down 113 points (-1.62%). 

• Fed delivers big rate hike, signals possible smaller increases ahead
• Stocks end down, yields up as Powell sticks to hawkish stance
• Powell sees higher peak for rates, path to slow tempo of hikes
• Wall Street sees ‘devil’s bargain’ in Powell’s rate comments
• Ukraine grain export deal back on track as Russia resumes participation
• North Korea fires 23 missiles, one landing off South Korean coast for first time
• Amazon sees record interest from retail investors after earnings
• Oil jumps to three-week high as tight fuel supplies spark worry

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