📉 Close: Dow 51,462, −1.21% After Fed Hikes 25 bp to 3.75–4%, 12–0 — S&P 7,551.81; Nasdaq −0.01%

The 1:17 tape was a draft. 4 p.m. is the grade. The Fed typed.

MarketWatch, Wednesday 4:15 p.m. ET / Associated Press: Dow Jones 51,461.90, down 631.21, −1.21%. S&P 500 7,551.81, down 33.92, −0.45%. Nasdaq Composite 25,978.42, down 3.15, −0.01%. Midday we had Dow 52,062.54 at 1:17. The statement hit at 2:00. The presser ran. The last hours went red on the Dow. Tuesday’s close remains 52,093.11. This is day three in the red for the industrials.

Federal Reserve, 2:00 p.m. ET: the FOMC voted 12–0 to raise the funds target 1/4 percentage point to 3-3/4 to 4 percent. Statement: “Inflation remains elevated.” “Today’s policy action will support a timelier return to the Committee’s 2 percent goal. The Committee will deliver price stability.” Chair Kevin Warsh: inflation has been “too high … for too long.” CNBC, Jeff Cox: first hike since 2023. Reuters, 6:52 p.m. UTC: Warsh said summer readings do not tell him underlying trends have meaningfully improved. A unanimous hike is not a second hike. The SEP median funds rate 4.1% at year-end is a projection, not a vote. Warsh did not submit his own dot.

MarketWatch: 2-year yield 4.725%, highest close since July 2024. 10-year 5.003%, a 19-year high. 30-year 5.346%. Yahoo: Nvidia $213.90 at 4:00. Brent (BZ=F) $105.61 at 7:02 p.m. ET. That is not Tuesday’s $108.75 settle. WTI $102.02 at 7:05. Bitcoin about $75,814 at 7:16. CNBC: 30-year mortgage had reached 7.19% on Mortgage News Daily’s tape since Jackson Hole. That print is not this close.

What this means for you

If you needed 1:17, that was 52,063 before the vote. If you needed the close, it is 51,462. If you needed a second hike, they have not taken it. Not investment advice.

Bottom line: Dow 51,462. Funds 3.75–4%, 12–0. 1:17 is retired. Not a second hike.

GLHR NEWS explains the news. Not investment, tax, or trading advice. Do your own work before you act.