The Dow Jones Industrial Average on Wednesday closed with an 1,100 point loss as the Federal Reserve opted to keep interest rates steady, marking its highest single-day loss since April 2025. 

The Dow Jones closed 1,153 points lower than it opened at, which is a 2.2% drop. The S&P 500 and the Nasdaq Composite also suffered smaller setbacks Wednesday, with the S&P dropping 1.5% and the Nasdaq falling 1.7%.

The changes come the same day that the Federal Reserve opted to keep interest rates steady, despite the installation of Kevin Warsh as Fed chairman. Warsh was confirmed in May and previously opted to hold rates steady in June. The agency had been expected to hold rates constant yet again.

The drop also comes amid concern regarding the conflict in the Middle East. President Donald Trump warned recently that the United States will hit Iran "hard," especially after the country launched surprise attacks on the U.S. this week. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.