S&P 500 slips 1.21% after Fed dot plot shows 9 of 18 officials expect at least one 2026 rate hike

U.S. stocks fell after the Fed signaled a higher rate path. The S&P 500 dropped 1.21% to 7,420.10, Nasdaq fell 1.34% to 26,021.66, Dow lost 0.97% to 51,492.55, and Russell 2000 slid 0.74%. The Fed dot plot showed nine of 18 officials expect at least one hike, while the Philadelphia Semiconductor Index rose 1.38%.