Wall Street stocks slide after Fed holds rates at 3.50%-3.75%
US stocks slid on Wednesday after the Federal Reserve kept interest rates unchanged at 3.50% to 3.75%.
While most expected this move, a few Fed officials pushed for a small rate hike instead.
The Dow dropped 1.55%, the S&P 500 slipped 0.5%, and the Nasdaq fell 0.37%, a sign that markets are feeling the pressure.
Oil jumps 7% amid Iran tensions
The Fed's decision comes as oil prices jump (up 7%) due to rising tensions in Iran, which had some people worried about inflation spiking again.
Luckily, June inflation cooled off more than expected, easing some nerves.
Global markets took a hit too: South Korea's KOSPI tumbled nearly 6%, and European indexes dipped slightly.
Now, everyone's watching for upcoming earnings from tech giants like Microsoft and Apple to see how they're handling all this economic uncertainty.