Markets wobble as Warsh-era Fed signals possible year-end rate hike
TL;DR
U.S. stocks fell after the Federal Reserve held rates steady in its first decision under new chair Kevin Warsh, but nine of 18 FOMC members signaled a rate hike by year-end, sending the Nasdaq and S&P 500 down about 1% and the Dow lower as traders price in higher rates amid inflation dynamics and energy-market tensions related to Middle East developments.
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