The dollar fell on Wednesday after the U.S. Federal Reserve moved to a hawkish monetary policy but without delivering a tougher surprise that might have added to its weeks-long momentum.

The S&P 500 closed higher on Wednesday after some choppy trading following the U.S. Federal Reserve's interest rate increase and its signal that more hikes would be needed to fight inflation, putting an end to the pandemic-era easy monetary policy.

Germany's Thyssenkrupp on Wednesday suspended its 2021/22 forecast for free cash flow before mergers and acquisitions for due to the Ukraine crisis and said it was unclear if it would still be able to spin off its steel division.

Chipmaker Qualcomm Inc said on Wednesday it has stopped selling its products to Russian companies in compliance with U.S.-imposed sanctions after Moscow invaded Ukraine.

At least 10 vessels carrying Russia-linked cargoes of crude and refined products were approaching the United States on Wednesday, as suppliers rushed to deliver ahead of the U.S. government's deadline to wind down Russian energy purchases, data from traders and Refinitiv Eikon showed.

The dollar index turned up for the day on Wednesday shortly after the U.S. Federal Reserve raised interest rates by the expected quarter of a percentage point and projected its policy rate would go as high as 2% by the end of the year.