Wall Street dives with Dow's biggest fall since April 2025
Wall Street had a rough Wednesday, with the Dow dropping more than 1,100 points, its biggest fall since April 2025.
The S&P 500 and Nasdaq also took hits, and the tech-heavy Nasdaq 100 slipped into "technical correction," meaning it's down more than 10% from its highest point.
If you're wondering why everyone's talking about stocks today, this is why.
Fed keeps rates as yields climb
The US Federal Reserve decided to keep interest rates steady at 3.5% to 3.75%, even though some regional Fed presidents wanted a change.
Inflation worries are still hanging over investors, and Fed Chair Kevin Warsh admitted the fight against rising prices isn't over yet.
That uncertainty pushed bond yields higher (the 30-year hit its highest level since 2007), made gold and silver a bit more popular, and sent the US dollar lower as people scrambled to adjust their investments.