U.S. stocks tank after Fed decision

U.S. stocks tumbled on Wednesday as bond yields surged following the Federal Reserve's interest rate decision, while a sharp spike in oil prices further stoked inflation fears.

The Dow Jones Industrial Average fell 2.19 percent to 51,594.14. The Standard and Poor's 500 sank 1.52 percent to 7,316.15. The Nasdaq Composite Index shed 1.74 percent to 24,442.94.

Eight of the 11 primary Standard and Poor's 500 sectors ended in the red, with industrials and technology leading the laggards by going down 3.24 percent and 2.50 percent, respectively. Meanwhile, energy and consumer staples led the gainers by rising 1.98 percent and 0.26 percent, respectively.

U.S. stocks tank after Fed decision

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 7 pips to 6.7892 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 6.7892 against USD Thursday