U.S. stocks fall, Treasury yields rise as Fed signals interest rates will remain higher for longer

U.S. stocks pulled back while Treasury yields jumped on Wednesday after the Federal Reserve kept interest rates on hold, while signaling that it planned to hold borrowing costs higher for longer while delivering one more interest-rate hike later this year. The S&P 500 SPX was off 6 points, or 0.1%, at 4,437 in recent trade, while the Nasdaq Composite COMP was down 52 points, or 0.4%, at 13,622. The yield on the 10-year Treasury note was off by 2 basis points at 4.344% after paring an earlier decline. Bond yields move inversely to prices. In addition to its interest-rate decision, the Fed released an updated policy statement…