Fed Holds Rates: Dow closes 383 pts higher, S&P 500 climbs to 5,675

US Stock Market Update (March 19), Dow Jones, Fed Rate Decision: US equity benchmarks held on to intraday gains after the Federal Reserve announced a status quo on key US interest rates while hinting at reductions amounting to 50 basis points (bps) during 2025. Gains in technology, consumer discretionary, energy, and communication services shares drove the broad-based gains on Wall Street, though the Fed raised its core inflation projection while lowering its economic growth forecast for the year.

The decision by the Federal Open Market Committee, led by Fed Chair Jerome Powell, was unanimous. 

The US central bank raised its core inflation outlook for the year by 30 basis points (bps) to 2.8 per cent, while maintaining its projection for the next year at 2.2 per cent. 

US Stock Market on Wednesday, March 19 | Here is how Dow Jones, S&P 500 & Nasdaq fared at the end of the session

At the closing bell, this is where the main American indices stood:

• Dow Jones Industrial Average (DJIA): up 383.3 points, or 0.9 per cent, at 41,964.6
• S&P 500: up 60.6 points, or 1.1 per cent, at 5,675.3
• Nasdaq Composite: up 246.7 points, or 1.4 per cent, at 17,750.8
• Russell 2000: up 32.1 points, or 1.6 per cent, at 2,082.1

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Top Dow Gainers vs Losers

Except nine stocks, all Dow constituents were in the green zone.

Read more on March 19 Fed rate decision here

Here's how some of the prominent names in the American tech stocks-heavy Nasdaq Composite pack fared: 

With inputs from agencies

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