Stocks and bonds see wild 'Fed Day' swings as Wall Street's 'crash cushion' evaporates

By Joseph Adinolfi and Christine Idzelis

Major equity indexes put in their worst 'Fed Day' performance since December 2024, while the yield on the 30-year bond shot higher

Kevin Warsh presided over a volatile "Fed Day."

Wall Street endured a painful selloff on Wednesday, as new Federal Reserve Chair Kevin Warsh presided over one of the wildest Fed decision days for markets in recent memory.

Both stocks and bonds saw wild swings, while the dollar finished 0.5% lower - more than erasing all of its gains from earlier in the month, based on the performance of the ICE U.S. Dollar Index DXY.