The Federal Reserve held interest rates steady at 3.5%-3.75%, marking the first meeting under new Chairman Kevin Warsh, whose approach appears to signal a shift away from 'easy money' policies. This has contributed to a notable decline in the S&P 500, which fell over 1% on the day of the announcement, the worst performance for a new chair since at least 1994.
In other news, JetBlue is scaling back operations in New York to focus on expansion in Florida, reflecting a strategic shift in response to market demands. Meanwhile, Intel's shares rose 9% after President Trump announced a partnership with Apple to design and manufacture chips in the U.S., following a government investment in Intel last year.
These developments underscore the dynamic nature of the market and the potential for both challenges and opportunities across various sectors