US Stocks Close Lower as Federal Reserve Raises Interest Rates for First Time in Over Three Years

US stock markets ended midweek trading lower after the Federal Reserve raised interest rates for the first time in more than three years, according to a report by Anadolu Agency.

The Dow Jones Industrial Average dropped more than 600 points during the session, the report said, as banking shares declined following the central bank's rate decision.

The Nasdaq, by contrast, ended the day nearly flat, according to the report.

The Federal Reserve's move to raise interest rates marked its first such increase in over three years, Anadolu Agency reported, though the report did not specify additional details on the size of the increase or the central bank's rationale.

Further details on the market session, including performance across other major indexes, were not provided in the available report.