U.S. stocks edge lower after Fed signals possible rate hike before year-end

The Fed’s dot plot showed nine officials expect at least one rate increase by the end of the year, pushing the 2-year Treasury yield up 9 basis points to 4.14%. The S&P 500 fell 0.6%, while the Nasdaq also lost 0.6%. The Dow swung from a 281-point gain to a decline of 86 points. The drop was attributed to higher-for-longer rate expectations weighing on equity valuations, with no offsetting or easing signal offered in the report.