Why Shares of Mastercard, Citigroup, and Goldman Sachs Edged Lower Today
Shares of most stocks continued to fall to end the week as investors were nursing a hangover from the Federal Reserve's September meeting, which ended with another large rate hike.
Shares of the large payments rail Mastercard (NYSE: MA) traded roughly 2.75% lower as of 2:58 p.m. ET today. Shares of Citigroup (NYSE: C) traded more than 4.5% lower, and shares of Goldman Sachs (NYSE: GS) were down nearly 5%.
As most investors expected, the Fed raised its benchmark overnight lending rate, the federal funds rate, by 0.75% at the conclusion of its September meeting Wednesday. That was actually good news, because some had feared that the Fed might raise rates an even bigger 1%.
Source Fool.com
