U.S. stocks closed mixed on Wednesday after the Federal Reserve cut interest rates but Fed Chair Jerome Powell hinted at uncertainty over another rate cut in December. The Dow fell 0.2%, while the S&P 500 ended flat. However, the tech-heavy Nasdaq rose 0.6%, hitting a new all-time high.

The Federal Reserve cut interest rates by a quarter percentage point, bringing its benchmark policy rate to 3.75-4%. The rate cut was expected, but Powell’s comments on future rate cuts left investors uncertain. The Dow reversed earlier gains, and the 10-year Treasury yield surged past 4%, affecting stocks like McDonald’s and Costco.

The Nasdaq rallied, led by NVIDIA’s stock jump after reaching a $5 trillion market cap. Investors await Trump’s meeting with Chinese President Xi Jinping for potential trade resolution. Earnings reports from tech giants like Microsoft, Alphabet, and Meta Platforms were also in focus after the closing bell.

Read more at Nasdaq: Stock Market News for Oct 30, 2025