NEW YORK, June 17 : Major stock indexes fell, bond yields rose and the U.S. dollar extended gains on Wednesday after the Federal Reserve held the benchmark interest rate steady and new projections showed officials expect a hike in borrowing costs later this year amid increasing inflation concerns.Kevin Warsh,

Futures markets overwhelmingly expect the Fed to hold interest rates steady.

U.S. stocks dropped on speculation the Federal Reserve may raise interest rates this year to keep a lid on inflation.

US stocks tumbled Wednesday as traders anticipated a Federal Reserve rate hike, with policymakers projecting rising interest rates later this year. New Fed Chair Kevin Warsh…