The Fed held rates at 3.5% to 3.75%, but nine policymakers now expect at least one increase this year. Kevin Warsh removed forward guidance, skipped the dot plot and launched five reviews of how the Fed operates. Markets now price a 78% chance of a December hike, while Treasury yields and the dollar climbed and gold fell. The Dow, S&P 500 and Nasdaq dropped, while SpaceX lost 4.95% after its strong post-IPO rally.