Stocks Opened Lower after Fed Move

U.S. stocks opened lower on Thursday in the wake of the Federal Reserve’s decision to raise interest-rates by a quarter percentage point on Wednesday. The Dow Jones Industrial Average lately fell 213.99 points, or 0.92%, to 23,109.67. The S&P 500 was down 17.56 points, or 0.70%, to 2,489.40. The Nasdaq Composite declined 29.71 points, or  0.45%, to 6,607.12.

Oil prices slid sharply on Thursday, with the commodity dropping along with other perceived riskier assets after the Federal Reserve hiked U.S. interest rates and as supply issues returned to haunt the market. February West Texas Intermediate tumbled $2.25, or 4.5%, to $46.06 a barrel. February Brent extended losses to drop $1.81, or 3.1%, to $55.44 a barrel.

Drugstore chain Walgreens Boots Alliance Inc posted a better-than-expected quarterly profit on Thursday. Net income attributable to the company rose to $1.12 billion, or $1.18 per share, in the first quarter ended Nov 30 from $821 million, or 81 cents per share, a year earlier. Sales rose 9.9 percent to $33.79 billion.