Why Marriott Stock Was Down 5.6% Today
Shares of Marriott International (NASDAQ: MAR) fell 5.6% on Wednesday, closing at $148.17. The major indexes were all up in the morning in anticipation of the announcement by the Federal Reserve Board on interest rates, but after that announcement came, the indexes all plummeted. The Federal Reserve Board meeting was the big news of the day and the board, as expected, raised interest rates by 75 basis points for the third straight time.