IMG:CC - Investors Try to Gauge Fed's Next Rate Move Dow Plunges 500+

Stocks fell on Wednesday in wild action as traders tried to interpret the Federal Reserve's next move after it delivered another widely expected three-quarter-point interest rate hike.

The Dow Jones Industrials fell 504.98 points, or 1.6%, to end Wednesday at 32,148.22.

The S&P 500 toppled 96.42 points, or 2.5%, to 3,759.68.

The NASDAQ free-fell 366.05 points, or 3.4%, to 10,524.80, dragged down by popular technology stocks.

The Fed implemented another 0.75-percentage-point rate increase Wednesday afternoon and Fed Chair Jerome Powell said in a press conference that its inflation fight was far from done.

Treasury prices slipped, raising yields to 4.08% from Tuesday's 4.05%. Treasury prices and yields move in opposite directions.

Oil prices gathered 89 cents to $89.26 U.S. a barrel.

Gold prices tumbled $11.10 to $1,638.50 U.S. an ounce.