Help needed in understanding today's market shift during FOMC

Hey guys, new into the stock market and was following semiconductors today with the Federal conference. This is the first conference I've ever listened to and didn't understand a lot of stuff, but I thought the gist of it was Warsh wants the rates to be lower and will be aiming for that in the coming months. Moreover, he wants to have a free Fed detached market that works on its own data. If my interpretation is true, I would expect the markets to rip, but instead am seeing it go down, at least on the semiconductor side of things. Is there any reasoning or thinking behind this? Anything really helps! And if there's anything I can learn or research, that'd be very valuable as well! Thanks in advance!!