The S & P 500 index closed lower on Thursday after the big gains of the previous session, as investors digested the Federal Reserve's latest monetary policy decision.
"Our hypothesis is that the Fed will be phased, they do not want to force the problem" said Tim Courtney, Chief Investment Officer at Exencial Wealth Advisors. "They certainly do not want to be the ones that invert the yield curve".
Thursday's moves come after major equity indices have recorded strong gains following US midterm elections. The S & P 500 and Dow have increased by more than 2% on Wednesday, recording the largest post-midterm electoral gains since 1
The result, with the Republicans having control of the Senate and the Democrats taking over the control of the Chamber has been widely expected and has raised another layer of uncertainty among the many that investors have to do.