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Wall Street sinks on bets Fed will hike rates this year

SUMMARY
Indexes fall: Dow 0.98%, S&P 500 1.21%, Nasdaq 1.34%
All S&P 500 industry sectors turn red after Fed meeting
Fed keeps rates steady, signals hikes later this year
Regional banks, housing ETF underperform after meeting

June 17 (Reuters) - The S&P 500 and Nasdaq closed down by more than 1% on Wednesday, as traders bet that the ​Federal Reserve's next move would be a rate hike after new Fed Chair Kevin Warsh highlighted the need to tame inflation and other policy makers projected ‌rising interest rates later this year.

The Fed left rates unchanged as expected, but new quarterly projections showed nine central bank officials expect at least one rate hike by the end of 2026 to combat higher inflation. The policy statement removed previous language that had flagged the likelihood for rate cuts this year.


https://www.reuters.com/business/sp-nasdaq-futures-inch-up-ahead-warshs-debut-2026-06-17/

Wall Street closes lower on Fed rate hike bets
https://www.straitstimes.com/business/companies-markets/wall-street-closes-lower-on-fed-rate-hike-bets
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