Nasdaq and S&P 500 rally after Fed holds rates steady, but Dow drops over 700 points

Nasdaq and S&P 500 rally after Fed holds rates steady, but Dow drops over 700 points

The Fed maintained rates at 3.5%-3.75% (9-3 vote), but three FOMC dissenters favor a hike, signaling tightening risk if inflation stays elevated. For tech executives, this means rising capital costs ahead—rate hikes would compress valuations and tighten M&A and hiring budgets.