Dow reverses gains after new Fed chief’s first policy meeting (opens original article in a new tab)

The Dow Jones Industrial Average dropped over 500 points following the first policy meeting led by new Federal Reserve Chairman Kevin Warsh, as the Fed maintained its key interest rate but showed support for potential rate hikes and expressed concerns about inflation.

• Dow Jones fell over 500 points after new Fed chair's first policy meeting
• Fed maintained key interest rate but 45% of policymakers supported rate hike later this year
• Fed removed language suggesting future rate cut, indicating concern over inflation