Stock Market Today: Stocks Drift After Fed Hikes Rates, as Yields Fall on Hopes That’s the Last One

Stock Market Today: Stocks Drift After Fed Hikes Rates, as Yields Fall on Hopes That’s the Last One
Traders work on the floor at the New York Stock Exchange in New York on July 26, 2023. Seth Wenig/AP Photo
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NEW YORK—Stocks held steady Wednesday after the Federal Reserve raised interest rates to their highest level in more than two decades, just as Wall Street expected.

The S&P 500 slipped 0.71, or less than 0.1 percent, to 4,566.75, remaining near a 15-month high. The Dow Jones Industrial Average rose 82.05 points, or 0.2 percent, to 35,520.12, and the Nasdaq composite slipped 17.27, or 0.1 percent, to 14,127.29.