US stocks-S&P 500 ends lower after Fed hikes interest rates, sees more tightening ahead

According to preliminary data, the S&P 500 .SPX lost 33.48 points, or 0.43%, to end at 7,552.88 points, while the Nasdaq Composite .IXIC lost 3.15 points, or 0.00%, to 25,978.43. The Dow Jones Industrial Average .DJI fell 608.42 points, or 1.17%, to 51,484.69.

Among the 11 major sectors of the S&P 500, energy .SPNY, weighed down by easing crude prices, suffered the largest percentage drop.

Chevron CVX.N and Exxon Mobil XOM.N fell on the day, while Devon Energy DVN.N and ConocoPhillips COP.N suffered steeper declines.

Tech got a lift by semiconductor shares .SOX, which logged their first decisive rally since a joint call from AI executives, which called for a slowdown of the rate at which capabilities are advanced and industry-wide safety coordination.

Robinhood HOOD.O shares dropped after the U.S. Senate failed to advance sweeping cryptocurrency legislation in a major blow to digital asset companies. Separately, the U.S. Department of Justice on Tuesday charged two former Robinhood engineers with insider trading and misuse of confidential information.