Business

US shares dip as Fed rally pauses

NYSE trader Image copyright Reuters

US shares dipped on Friday, as the rally prompted by the Federal Reserve's rate rise paused for breath.

The Dow Jones Industrial Average lost 20 points to end at 20,914.62, while the broader S&P 500 index dipped by just three points to finish at 2,378.23.

The tech-heavy Nasdaq Composite was unchanged at 5,901.

Among the individual shares to rise was jewellery firm Tiffany's after it reported better-than-expected results.

Strong demand in Japan and China, as well as higher prices, helped an overall rise in sales, but profit fell to $157.8m in the fourth quarter from $163.2m the same time last year.

Software company Adobe also saw its shares jump 3.8%, also after beating expectations with its earnings.