NEW YORK—U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it.
The S&P 500 fell 41.75, or 0.9 percent, to 4,402.20. The Dow Jones Industrial Average lost 76.85, or 0.2 percent, to 34,440.88, and the Nasdaq composite dropped 209.06, or 1.5 percent, to 13,469.13.
