Fed Holds Rates, S&P Slides 0.4%

Fed kept policy rate at 3.50%-3.75%, likely its final hike under Chair Jerome Powell.
Major US indices fell, with S&P 500 down 0.4% to 7,111.14, Dow 0.9% to 48,719.28, Nasdaq 0.5% to 24,551.67.
Visa rose 9% after raising full-year revenue forecast; NXP surged 26.8% and Seagate 10% on strong AI-related outlooks.
Oil prices jumped over 6% to $110.73 per barrel as Iran-related tensions escalated, weighing on market sentiment.