US Futures are trading near the morning lows. As expected, the Federal Reserve raised interest rates by 0.25% and upgraded the economic outlook. When asked about dot plots and 3-4 hikes this years, Chairman Powell made it clear that dot plots are projections based on current information and are subject to change and the focus should be on the current action which was a move of 0.25%. The 10 year Treasury rate rose yesterday on the news, but is retreating today as equities fall. Weekly jobless claims rose 3k last week to 229k. Later this morning the market will get flash PMI data from March. European shares are significantly lower with technology shares underperforming. Asian shares closed mixed with Japanese stocks outperforming.