US equity markets fell sharply late in the session, relinquishing earlier gains as investors digested the latest Federal Reserve monetary policy decision and a more-hawkish-than-expected tone from central bank Chair Jerome Powell - Dow fell -505-points or -1.44%, Boeing Co gained +2.90% after the planemaker’s Chief Executive Officer (CEO) said the company could generate US$10B in cash annually by mid-decade and expects to return cash to shareholders and will not need equity to get there after 2026. The broader S&P500 shed -2.50%, with Consumer Discretionary (-3.79%), Information Technology (-3.47%), and Communication Services (-3.04%) all declining over >3% to lead all eleven primary sectors lower. The Nasdaq tumbled -3.36%, with Amazon.com Inc (down -4.82%), Netflix Inc (-4.80%) and Meta Platforms Inc (-4.89%) all down almost 5%. The small capitalisation Russell 2000 dropped -3.36%.
