US Stocks Slide as Fed Raises Interest Rates Amid Inflation Fears

US stocks experienced a decline on Wednesday following the Federal Reserve's decision to raise its main interest rate for the first time in three years. This move was seen as an attempt by the Fed to combat high inflation.

The S&P 500 index fell by 0.4%, while the Dow Jones Industrial Average dropped 631 points, or 1.2%. The Nasdaq composite was nearly unchanged, edging down less than 0.1%.

The interest rate hike and the suggestion of further increases in the future contributed to the decline in stock prices. This move by the Fed is aimed at curbing inflation, which has been a concern for investors and policymakers alike.