Stocks Tumble After Fed Hikes Rates Again; MSFT, LRCX, MTH Hold Up

The Federal Reserve, as expected raised its key lending rate by another quarter point to a range of 4.75% to 5%. It sees the terminal rate at 5.1% by the end of the year, which implies one more rate hike. The Nasdaq composite and S&P 500 ran into key resistance levels before turning lower, but Microsoft, Lam Research and Meritage Homes held up relatively well. Learn more about your ad choices. Visit megaphone.fm/adchoices