Stock Market Today: Major Indexes Stay Lower After Fed Holds Interest Rates; Tech Earnings on Tap; Oil Jumps as Trump Says Iran Blockade to Remain
Major stock indexes remained lower after the Federal Reserve held interest rates steady, with the Dow Jones Industrial Average down 0.8%, Nasdaq Composite down 0.3%, and S&P 500 down 0.3%. Oil prices surged 7.3% following a report that President Donald Trump instructed aides to prepare for an extended blockade of Iran.
The Federal Reserve held interest rates steady, with its key rate remaining in a range of 3.50% to 3.75%. The decision was expected, although four committee members dissented. Major stock indexes fell, with the Dow Jones Industrial Average down 0.8%, Nasdaq Composite down 0.3%, and S&P 500 down 0.3%. The 10-year Treasury yield held steady at around 4.40%. Four tech giants - Alphabet, Amazon, Meta Platforms, and Microsoft - are set to report earnings after the closing bell. Oil futures jumped 7.3% to $107.20 a barrel following a report that Trump instructed aides to prepare for an extended blockade of Iran.
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