US stocks mixed as Fed hikes for first time since 2023; long-end yields hit multi-year highs

US equities showed sectoral divergence as the Federal Reserve delivered its first rate hike since 2023, while long-term Treasury yields reached multi-year highs. The move signals a hawkish pivot amid persistent inflation concerns, pressuring rate-sensitive sectors and steepening the curve. Market participants are now pricing further tightening, though the pace remains uncertain.