Well, that bell marks the end of regulation.

Morgan Stanley, we're going to close in bow at the New York Stock Exchange.

Consensus doing the honors at the NASDAQ and markets turning lower after the Fed meeting.

NASDAQ alone closing positive.

Rates stay the same.

Two governors dissented wanting a quarter point cut, but it was Powell's presser that sank stocks,

as he spoke, the Fed chair not telegraphing a cut at the next meeting.

Bond yields jumped to their highs of the day during the pressure. Copper price is also

seeing a big intraday move on a new 50% tariff. More on that coming up. Well, that's the

scorecard on Wall Street. Welcome to closing bell overtime. I'm

Morgan Brennan, along with John Ford. We have a very busy hour of earnings reports coming up.

Microsoft and Meta both reporting. We're going to also hear from several chip companies,

including Qualcomm, plus Ford and Robin Hood. But as we wait for those reports, let's start with

the Fed. No change on rates. But the stage is set for an

interesting six weeks until the next meeting. Two governors dissented in today's decision.

That's the most dissenters at a meeting in more than 30 years. So joining us now is David Zervos,

chief market strategist at Jeffries. And David, it's great to have you on. John just mentioned it.

The fact that you saw bond yields tick higher as Fed Chair Powell spoke.

You saw stocks sink, although they came back a little bit here into the close.

The statement seemed to lean a little more doveish, but Powell seemed to lean a little more

hawkish with some of these comments, like we're still ways away from seeing where things

settle on trade,

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