Newsmv
stocks stumbled Wednesday after the Federal Reserve delivered a surprise at the new chairman's inaugural policy meeting, extending what has become a recognizable pattern of post-handover weakness in equity markets.
Bonds, gold, and the dollar also moved in the session's aftermath as investors processed the central bank's signal.
A Tradition of First-Meeting Turbulence Wall Street has a long institutional memory when it comes to Fed leadership transitions.
Wednesday's session fits squarely into a well-worn script: equities tend to underperform in the immediate wake of a new Federal Reserve chairman's first meeting at the helm.
Keep reading