Fed meeting sends Dow futures down 400 points

Investors digested the possibility of multiple Fed rate hikes this year 

starting as early as March.In addition to the Dow, the S&P 500 and the 

Nasdaq-100 futures all fell.The Dow Jones Industrial Average DJIA, -0.38% fell 

129.64 points, or 0.4 percent, to 34,168.09 on Wednesday, after briefly 

reaching 34,815.67. It ended at 4,349.93, down 6.52 points (0.2%), 

while the Nasdaq Composite Index COMP (+0.02%) gained 2.82 points (less than 0.1%) to close at 13,542.12.

After Fed Chairman Jerome Powell hinted at changes to US monetary policy, trading was volatile again.

 Powell said the Fed “was of a mind” to raise the federal funds rate for the first time since 2018 

at its mid-March meeting, and he didn't rule out increases of more than 25 basis points given the scope of the inflation challenge.