AM Report 3 May 18 : US rates on hold markets slide into the close.

The US Federal Reserve left interest rates unchanged with the target federal funds rate range maintained at 1.50-1.75%. The Fed said inflation had "moved close" to its 2% target and that "on a 12-month basis is expected to run near the Committee's symmetric 2 percent objective over the medium term."

 US sharemarkets ended weaker on Wednesday. Shares in Apple rose by 4.4% after announcing strong earnings results. But investors remained concerned about trade issues, especially between the US and China. The Dow Jones ended lower by 174 points or 0.7%

 

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