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Wall Street closes down sharply after Fed holds rates unchanged

July 30, 2026
Source: straitstimes.com straitstimes.com
News Snapshot:
NEW YORK - Wall Street ended sharply lower on July 29 after the Federal Reserve held interest rates steady, with AI-related chip stocks adding to recent declines ahead of quarterly reports from Microsoft and Meta Platforms, and the Nasdaq 100 index marking an 11 per cent drop from its June record high.The Fed’s widely expected decision to leave the benchmark interest rate in the 3.5 per cent to 3.75 per cent range drew dissents from three of the 12 members of the policy-setting Federal Open Market Committee who “preferred” a quarter-percentage-point hike at this meeting.The benchmark S&P 500 hit its...
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