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U.S. stocks slumped after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it NEW YORK -- U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S & P 500 fell 41.75, or 0.9%, to 4,402.20. The Dow Jones Industrial Average lost 76.85, or 0.2%, to 34,440.88, and the Nasdaq composite dropped 209.06, or 1.5%, to 13,469.13. The Fed held its main interest rate steady at its highest level in more than two decades, as was widely expected from its latest meeting. Officials also indicated they may raise the federal funds rate one more time this year, as the Fed tries to get i NFL ation back down to its target of 2%. Fed Chair Jerome Powell said it's close to hitting the peak on rates , if not there already. Perhaps most importantly for the market, Fed officials suggested ...

Help-wanted advertisements in New York will have to disclose how much jobs pay under a new salary transparency law ALBANY, N.Y. -- Help-wanted advertisements in New York will have to disclose proposed pay rates after a statewide salary transparency law goes into effect on Sunday, part of growing state and city efforts to give women and people of color a tool to advocate for equal pay for equal work. Employers with at least four workers will be required to disclose salary ranges for any job advertised externally to the public or internally to workers interested in a promotion or transfer. Pay transparency, supporters say, will prevent employer s from offering some job candidates less or more money based on age, gender, race or other factors not related to their skills. Advocates believe the change also could help underpaid workers realize they make less than people doing the same job. A similar pay transparency ordinance has been in effect in New York City since 2022. Now, the rest of t...