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The S&P 500 slid on Wednesday after the Federal Reserve left interest rates unchanged in its first policy decision of the year, while Nvidia slipped following a strong session.
The Dow Jones Industrials finished in the red 136.83 points to 44,713.52
The much-broader index faded 28.39 points to 6,039.31.
The NASDAQ Composite dipped 101.26 points to 19,632.32.
Nvidia shares hit their lows of the session, tumbling 5% after Bloomberg News reported Trump administration officials have discussed curbing chip sales of the company to China following the emergence of the DeepSeek AI model. For the week, the AI darling is down more than 14%.
A volley of Big Tech earnings are also due Wednesday afternoon, with Meta Platforms, Microsoft and Tesla issuing their quarterly reports.
The Fed left the federal funds rate in the range of 4.25% to 4.5%. The Fed’s post-meeting statement offered a more cautious view towards sticky inflation, providing investors with an explanation behind Wednesday’s interest rate pause.
Prices for the 10-year Treasury sagged, raising yields to 4.55% from Tuesday’s 4.54%. Treasury prices and yields move in opposite directions.
Oil prices docked 86 cents to $72.91 U.S. a barrel.
Prices for gold jumped $2.70 an ounce to $2,770.20 U.S.
