Stocks falter as Fed skips rate hike but plans more: Stock market news today

On a highly anticipated decision day for the Federal Reserve, policymakers put their interest rate hike campaign on ice — for now — but signaled more rate hikes to come.

After the Fed’s decision, stocks fell before paring their losses. At the close, the S&P 500 (^GSPC) was roughly flat, while the Dow Jones Industrial Average (^DJI) lost 0.8%, or 250 points. The tech-heavy Nasdaq Composite (^IXIC) bounced back from its lows to gain 0.2%.

Fed officials plan two more rate hikes this year after skipping a hike this meeting. Chairman Jerome Powell also said he expects no rate cuts this year.

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