The Federal Reserve increased interest rates by 0.25% in a unanimous vote. The first rate hike of the year weighed the markets down to a lower close with the Dow plunging 118 points to 19,792. Nasdaq fell 27 points to 5,436.
On the upside
Shares of Skyline Medical (Nasdaq: SKLN) climbed on no news.
Global Eagle Entertainment (Nasdaq: ENT) extended its contract to provide connectivity systems and services to Southwest Airlines (NYSE: LUV) through 2025.
Antares Pharma (Nasdaq: ATRS) stock climbed for the second day in a row.
On the downside
Investors locked in profits on First NBC Bank Holding (Nasdaq: FNBC).
Airgain (Nasdaq: AIRG) closed its public offering of common stock.
Aegean Marine Petroleum Network (NYSE: ANW) increased its convertible senior notes offering.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 index tumbled 18 points to 2,253. Bitcoin held steady at $773.
