The Federal Reserve kept short-term interest rates unchanged Thursday, leaving market watchers continuing to guess when it will abandon its accommodating policy.
Stocks closed mixed on the day, with the dollar and U.S. Treasury yields falling after the Fed's decision. CNBC "Fast Money" traders outlined their best plays in the wake of the move.
1. Sell the iShares MSCI Emerging Markets ETF
Emerging markets will cheer easy policy from the Fed, so investors may want to fade any rally they see in the emerging market fund, said trader Tim Seymour.
2. Buy SPDR S&P Homebuilders ETF
Seymour looked to homebuilder stocks to play momentum in the housing sector. Trader Dan Nathan agreed, saying the segment helps investors play defense domestically.