Markets mixed as Fed leaves interest rates unchanged

Markets were mixed on Wednesday.

The S&P 500 fell 0.7 percent and the Nikkei 225 fell 0.2 percent but the STOXX Europe 600 rose 0.6 percent.

A Federal Reserve monetary policy meeting on Wednesday left interest rates unchanged but said it expected further interest rate hikes will be needed in coming months.

“There are concerns in the market that rising inflation will prompt the Fed to hike more than three times this year, but the Fed statement was reassuring as it did not hint of faster pace of hikes,” said Kate Warne, investment strategist at Edward Jones.