(CNBC) — Stocks gyrated on Wednesday as the Federal Reserve paused its rate-hiking campaign and signaled it was making progress on fighting inflation.
But at the same time, the central bank indicated it would hike another two times later this year.
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The S&P 500 was slightly lower after briefly touching its highest level since April 2022. The Nasdaq Composite also ticked down, supported by gains in Nvidia and AMD. The Dow Jones Industrial Average dipped 0.7%, dragged down by losses in UnitedHealth.
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