Partly cloudy this evening, then becoming cloudy after midnight. Low 58F. SW winds at 15 to 25 mph, decreasing to 5 to 10 mph..
Partly cloudy this evening, then becoming cloudy after midnight. Low 58F. SW winds at 15 to 25 mph, decreasing to 5 to 10 mph.
Updated: June 18, 2026 @ 4:15 pm
U.S. stocks dropped on speculation the Federal Reserve may raise interest rates this year to keep a lid on inflation.
The S&P 500 slumped 1.2% Wednesday after the Fed released projections showing nearly half its policymakers foresee at least one increase to its main interest rate this year. The Dow Jones Industrial Average went from a gain of 0.5% in the morning to a drop of 1%, while the Nasdaq composite sank 1.3%.
Treasury yields climbed on rising expectations for a hike to rates in 2026. Higher rates can tap the brakes on inflation, but they also slow the economy and hurt prices for investments.
On Wednesday:
The S&P 500 fell 91.25 points, or 1.2%, to 7,420.10.
The Dow Jones Industrial Average fell 507.12 points, or 1%, to 51,492.55.
The Nasdaq composite fell 354.69 points, or 1.3%, to 26,021.66.
The Russell 2000 index of smaller companies fell 21.21 points, or 0.7% to 2,917.98.
For the week:
The S&P 500 is down 11.36 points, or 0.2%.
The Dow is up 290.29 points, or 0.6%.
The Nasdaq is up 132.81 points, or 0.5%.
The Russell 2000 is down 26.01 points, or 0.9%.
For the year:
The S&P 500 is up 574.60 points, or 8.4%.
The Dow is up 3,429.26 points, or 7.1%.
The Nasdaq is up 2,779.67 points, or 12%.
The Russell 2000 is up 436.07 points, or 17.6%.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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