U.S. stocks and government bond yields edged down after the Federal Reserve raised interest rates for the first time since 2018 and oil soared as the market’s focus returned to the Ukraine war.
The S&P 500 declined 0.4% in early trading, after the broad-market index closed more than 2% higher on the past two consecutive days. The Nasdaq Composite Index fell 0.7%, as technology stocks suffered modest losses after the opening bell. The Dow Jones Industrial Average dropped 0.4%, or 130 points.