A trader works on the floor of the New York Stock Exchange in New York on Wednesday as a screen shows Federal Reserve Chair Kevin Warsh's news conference following the Fed's interest rate announcement. [Reuters]
A trader works on the floor of the New York Stock Exchange in New York on Wednesday as a screen shows Federal Reserve Chair Kevin Warsh's news conference following the Fed's interest rate announcement. [Reuters]

US stocks closed lower Wednesday after the Federal Reserve held its benchmark interest rate steady, with long-term Treasury yields jumping sharply amid concerns over inflation risks.

The Dow Jones Industrial Average fell 1,153.18 points, or 2.19 percent, to close at 51,594.14.

The S&P 500 dropped 112.63 points, or 1.52 percent, to finish at 7,316.15, while the technology-heavy Nasdaq slid 433.97 points, or 1.74 percent, to end at 24,442.94.


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