Bed Bath & Beyond Plunges 15%

Megan Higgins, manager at Adviser Investments, has the market analysis for Wednesday, September 26. The Dow Jones Industrial Average, S&P 500 and NASDAQ fell 0.4%, 0.3% and 0.2%, respectively. Federal Reserve Chairman Jerome Powell’s press conference remarks emphasized ongoing economic strength, inflation steadiness and job market strength; as anticipated, the Fed hiked short-term interest rates by 0.25%. Meanwhile, CarMax’s stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. dropped nearly 2% despite exceeding estimates and posting a 26% gain in quarterly revenue. Bed Bath & Beyond fell 15% after failing to meet margin, sales growth and revenue expectations.