Yesterday , Federal Reserve raised key short-term rates for the second time in almost a decade from 0.25% to 0.5% as had been universally expected, but it also forecast three rate increases in 2017.

Markets moved violently on the news, especially bond , presious metals markets and the dollar. Bond market sold off as the yields shot higher after the announcement, with the yield on the U.S. two-year Treasury  touching its highest level since August 2009 at 1.29% and the ten-year at 2,6%. Dollar index rose to a new 13-year high as gold market plummeted to 10-month low , wiping out most of the year gains and ending up on Thursday morning at $1130 an ounce. Silver prices took even a bigger hit ending up on Thursday morning at $16.095 an ounce , down from August when silver spot prices hit almost 21 dollars an ounce. Dow Jones index has been inching closer to the key psychological level of 20,000. The blue- chip index, along with other benchmarks, also have been on a tear since the election, with investors expecting President Donald Trump’s policy proposals, including massive corporate tax cuts and environmental and financial deregulation to accelerate growth and raise inflation. Major indexes have hit a series of records, but were headed firmly lower on Wednesday.