The Dow Jones Industrial Average on Wednesday closed with an 1,100 point loss as the Federal Reserve opted to keep interest rates steady, marking its highest single-day loss since April 2025. The Dow Jones closed 1,153 points lower than it opened at, which is a 2.2% drop. The S&P 500 and the Nasdaq Composite also suffered smaller setbacks Wednesday, with the S&P dropping 1.5% and the Nasdaq falling 1.7%. The changes come the same day that the Federal Reserve opted to keep interest rates steady, despite the installation of Kevin Warsh as Fed chairman. Warsh was confirmed in May and previously opted to hold rates steady in June.