(CNBC) -- U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.
The Dow Jones Industrial Average turned sharply lower to fall as much as 382 points and last traded 210 points lower. The S&P 500 fell 0.4% on the day in volatile trading. The tech-heavy Nasdaq Composite last traded flat after falling 1.2% at its session low.
All 11 S&P 500 sectors fell into the red at one point, led to the downside by tech, materials and consumer staples.
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