Stocks on Wall Street slid after the Federal Reserve announced its decision to keep interest rates unchanged for the first time since early 2022. However, the central bank stressed it expects to raise rates by another 50 basis points by the end of the year.
The Dow Jones tumbled 0.92% or 312 points at 2:05 pm ET. UnitedHealth led the losses, plummeting over 7%.
The Nasdaq 100 dropped 0.41% at 2:06 pm ET, with Rivian diving 3.31%.
The S&P 500 fell 0.47% at 2:06 pm ET. The worst performer was Humana, whose shares plunged more than 12%.
The euro added 0.23% against the dollar to go for 1.08182 at 2:15 pm ET.
