US Stocks Slip as Fed Holds Rates Steady
US stocks closed lower on Wednesday after the Federal Reserve kept interest rates unchanged, ending a series of cuts that began in September.
Key Indices
* S&P 500: -0.5% (-28.39 points)
* Dow Jones Industrial Average: -0.3% (-136.83 points)
* Nasdaq Composite: -0.5% (-101.26 points)
* Russell 2000: -0.3% (-5.77 points)
Yields Stable
Treasury yields remained relatively steady following the Fed's announcement, suggesting that interest rates could remain on hold for the foreseeable future. Lower rates can stimulate the economy by making it cheaper for households and businesses to borrow, but they can also fuel inflation.
Nasdaq Decline
Nvidia continued to tumble, contributing to the Nasdaq's decline. The sharp drop follows DeepSeek's recent announcement, which has shaken the AI industry.
Weekly and Yearly Performance
* Weekly:
* S&P 500: -1% (-61.93 points)
* Dow: +0.7% (+289.27 points)
* Nasdaq: -1.6% (-321.98 points)
* Russell 2000: -1.1% (-24.64 points)
* Yearly:
* S&P 500: +2.7% (+157.68 points)
* Dow: +5.1% (+2,169.30 points)
* Nasdaq: +1.7% (+321.53 points)
* Russell 2000: +2.4% (+52.94 points)