NEW YORK — Wall Street edged lower Wednesday following a rally that had sent it roaring 16% higher for the year so far. Other markets around the world fell more sharply following the latest discouraging signal from China’s economy. At its last meeting, the Fed decided to hold rates steady, the first time in more than a year that it refrained from hiking rates. Much of Wall Street expects the Fed to raise rates later this month. On Wall Street, shares of UPS fell 2.1% as the company tries to reach a deal with the Teamsters union representing about 340,000 of its workers.

Source: Daily Sun July 05, 2023 21:12 UTC