Stock Market Today: Markets Slip After Latest Fed Rate Hike

Stock Market Today: Markets Slip After Latest Fed Rate Hike
Traders work on the floor at the New York Stock Exchange in New York on May 3, 2023. Seth Wenig/AP Photo
The Associated Press
Updated:

NEW YORK—Stocks dipped Wednesday after the Federal Reserve announced its latest hike to interest rates but said it’s not sure what may come next.

The S&P 500 fell 28.83, or 0.7 percent, to 4,090.75. The Dow Jones Industrial Average lost 270.29, or 0.8 percent, to 33,414.24, and the Nasdaq composite slipped 55.18, or 0.5 percent, to 12,025.33.