1438 ET - U.S. stocks sell off following the Fed's much anticipated decision to leave interest rates unchanged. Investors may be eyeing the fact that three FOMC voters--Beth Hammack, Lorie Logan and Neel Kashkari--dissented against the Fed's policy statement suggesting that the Fed's next move will be another rate cut. "For investors, the key message is that the path to lower rates is likely to be slower and less predictable than markets once hoped. The resilience of the US labor market gives the Fed room to remain patient, but higher-for-longer rates continue to shape conditions across equity and bond markets, particularly through tighter financial conditions and pressure on valuations," says Richard Flax, Chief Investment Officer at Moneyfarm in a note. DJIA is off 0.8%, the S&P 500 and Nasdaq are 0.3% lower. (patrick.sheridan@wsj.com)

(END) Dow Jones Newswires

April 29, 2026 14:38 ET (18:38 GMT)

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