The Federal Reserve kept interest rates unchanged, maintaining the federal funds rate at 3.5% to 3.75%. February's producer price index rose 0.7% month over month, more than expected. Core wholesale prices increased 3.9% year over year, surprising economists. Rising geopolitical tensions between the US and Iran have added to market uncertainty, pressuring risk assets. Bitcoin dropped below $72,000, while the S&P 500 and Nasdaq declined about 0.7%.
Attention now shifts to Chair Jerome Powell for guidance on inflation and growth outlook.
Note: Content edited by Estefano Gomez.