US stocks fall after the Fed held rates steady but suggested the inflation drop has stalled. Meta, Tesla and Microsoft report earnings after the bell.

The Nasdaq and other major indices declined following the Federal Reserve’s first meeting of the year, with the tech-heavy index falling 1.1% by the afternoon as investors digested the central bank’s cautious stance on interest rates.

US stocks faced a decline on Wednesday after the Federal Reserve decided to leave interest rates unchanged, signaling a cautious approach toward inflation. Investors reacted to the news with a pullback,