By Ovunc Kutlu
ANKARA (AA) - US stocks opened lower Thursday, one day after the Federal Reserve raised its benchmark interest rate 75 basis points for a third straight time.
The Dow fell 51 points, or 0.17%, to 30,132 at 9.37 a.m. EDT. The S&P 500 lost 16 points, or 0.44%, to 3,773.
The tech-heavy Nasdaq was off 71 points, or 0.64%, to 11,149
All indexes shed around 1.7% Wednesday after the Fed's much-anticipated September meeting.
The Fed also lowered the US economic growth forecast and raised its terminal rate -- the peak spot where the federal funds rate is expected to climb before being trimmed -- above 4% for 2022 and 2023, according to projections materials.
Chair Jerome Powell said the median for year-end projections suggests a total of 125 basis points, or 100 basis points, of interest rate increases for the remainder of the year, but noted that Fed officials did not vote on that decision during the meeting.
The VIX volatility index, also known as the fear index, shed 1.1% to 27.68. The 10-year US Treasury yield was flat at 1.6% to 3.646%.
The dollar index rose 0.25% to 110.92, near its highest in 20 years, while the euro was up 0.25% to $0.9861 against the greenback.
Precious metals bounced back from losses in recent days, with gold adding 0.3% to $1,679 and silver rising 0.6% to $19.68.
Oil prices were up around 3%. Global oil benchmark Brent crude was trading at $92.46 a barrel for a 2.9% gain. US benchmark West Texas Intermediate was around $85.60 – up 3.2%.