Dow falls 800 points after Fed decision as S&P 500 sheds $1.2 trillion

The directional claim — that U.S. stocks sold off sharply after the June 17, 2026 Fed decision with the S&P 500 wiping out ~$1.2 trillion in market value in under two hours — is supported by the originating Kobeissi Letter post and corroborated by MarketWatch and multiple market participants reporting a 1%+ drop across major indices after a hawkish Fed/dot plot under new Chair Warsh. The specific 'Dow falls 800 points' and '$1.2 trillion' figures appear to be intraday peak-decline numbers from a single primary source (Kobeissi); MarketWatch reported the Dow closed about 500 points lower (1%), suggesting the headline 800-point/$1.2T figures reflect a transient intraday trough rather than the final close. The substance of a sharp post-Fed sell-off is well established, but the precise magnitude in the headline is single-sourced and somewhat exceeds the closing figures.