Stock market news lives updates: Stocks rise as traders brace for Fed decision

U.S. stocks jumped Wednesday afternoon as investors considered the Federal Reserve’s latest monetary policy decision. In this, the central bank hiked interest rates 75 basis points, or the most since 1994, and suggested a similar move could take place next month. The S&P 500 jumped by more than 1.5% as of 3:08 p.m. ET and…