The Federal Reserve maintains the target range for the federal funds rate unchanged, leading to a collective decline in the major US stock indexes.

According to the Securities Times, the three major US stock indexes closed lower, with the Nasdaq down 0.51%, the S&P 500 down 0.47%, and the Dow down 0.31%. Among the large tech stocks, Nvidia fell 4%, Tesla fell over 2%, Microsoft fell over 1%, Intel and Amazon slightly down; Google and Apple slightly up. The Nasdaq China Dragon Index fell 1.16%, most of the popular Chinese stocks fell, with Good Future down over 4%, Bilibili and iQIYI down over 3%, Vipshop, NetEase and Neta Auto down over 2%, Xpeng Auto, JD and Miniso down over 1%.

On the news front, according to Xinhua News Agency, the US Federal Reserve's Federal Open Market Committee ended its two-day monetary policy meeting on the 29th and announced that it would maintain the target range of the federal funds rate at 4.25% to 4.50%. This is the first time the Fed has kept interest rates unchanged since it began to cut interest rates in September 2024. In a statement released on the same day, the Fed said that the US economy continued to expand at a steady pace. Unemployment has been stable at a low level in recent months, and the labor market remains solid, but inflation is still "at a high level to some extent", and the economic outlook is "uncertain".