Fed Expected to Signal Rate Hike This Week
The Dow fails to rally and closes the day down 112 points. The Dow and the S&P 500 have now ended in the red for six of the past seven days. Today the Russian ruble fell 23.2% vs. the U.S. dollar, marking an all-time low for the Russian currency. Despite falling gas prices many believe that the Fed will signal this week that they are just mere months away from raising short-term interest rates for the first time since the financial crisis in 2008.