US stocks end mixed after Fed signals more rate hikes to come

anymore,” said Sam Stovall, Chief Investment Strategist at CFRA Research. “However, it does seem as if the FOMC members have become even more hawkish since the last meeting, and I think that has taken investors by surprise.”

Heavyweight chipmakers Nvidia and Broadcom both rallied more than 4 percent and closed at their highest levels ever, lifting the Nasdaq and S&P 500. The Philadelphia semiconductor index jumped 1.5 percent, bringing its gain in 2023 to 48 percent. The S&P 500 health sector index dropped 1.1 percent and the S&P 500 managed healthcare index fell 6.9 percent, closing at its lowest in a year.

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