US stocks plunge

Stocks fell sharply in New York today as the Federal Reserve, shifting its stance on interest rates, signalled that an increase is coming. The Dow Jones industrials tumbled more than 140 points.

After a two-day meeting, the Fed’s Open Market Committee left rates unchanged, maintaining a 45-year low. But in a statement, the central bank dropped its previous wording that rates would be maintained for a “considerable period”.