The Federal Open Market Committee left the federal funds target rate unchanged at 3.5% to 3.75%, but three policymakers dissented in favor of a quarter-point hike, marking the first time since September 2016 that three dissents have occurred in the same policy direction. The dissents came from Beth Hammack, Neel Kashkari, and Lorie Logan, while nine members voted to hold rates steady. The decision sent the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite tumbling, as Wall Street has historically reacted poorly to a fractured Fed. Fed Chair Kevin Warsh, who took office in May, views the dissension as healthy, but investors worry that a divided central bank threatens its credibility and could pose a serious problem for the stock market if the uncertainty persists.