WATCH: Banks stifle Wall Street rally following dovish Fed statement
NEW YORK - The S&P 500 and the Dow ended lower on Wednesday as interest rate-sensitive financial stocks dragged down the indexes after the U.S. Federal Reserve affirmed a dovish monetary policy stance.
At the conclusion of its two-day monetary policy meeting, the central bank indicated it sees no further rate hikes this year, and released details of a plan to end the monthly reduction of its balance sheet. R.J. Grant head of trading at Keefe, Bruyette & Woods in New York saw “a heavy pickup in selling in the banks especially,” as the yield curve flattened.
Powell affirmed that sentiment at a press conference following the release, citing mixed economic data and risks associated with Brexit and trade negotiations as reasons for caution. FedEx weighed on the Dow Jones Transport Index, a closely-watched gauge of economic health, pulling the index down 1.3 percent.General Mills Inc. rose 2.2 percent after the packaged food company reported better-than-expected quarterly profit and boosted its full-year forecast.Declining issues outnumbered advancing ones on the NYSE by a 1.16-to-1 ratio; on Nasdaq, a 1.64-to-1 ratio favored decliners.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
FedEx outlook weighs on Wall Street ahead of Fed policy decisionU.S. stocks fell on Wednesday after economic bellwether FedEx Corp's downbe...
और पढो »
Wall Street opens higher as Fed expected to hold fireU.S. stocks opened higher on Tuesday as investors expected a more accommodative ...
और पढो »
Wall Street treads water as Boeing, Facebook weigh; Fed meeting on tapU.S. stocks flitted between gains and losses on Monday, with losses in Boeing an...
और पढो »
Wall Street set for muted open as investors await Fed outlookWall Street's main indexes were set to eke out gains at open on Wednesday, ...
और पढो »
Financials weigh down Wall Street as Fed stays dovishThe S&P 500 and the Dow ended lower on Wednesday as interest rate-sensitive fina...
और पढो »
Hopes of Fed standing pat on rate hikes drive Wall Street higherWall Street's main indexes climbed on Tuesday, as investors hoped for a mor...
और पढो »
Dow falls 100 points as FedEx slides, Wall Street awaits Fed decisionStocks were little changed on Wednesday as a decline in FedEx tempered sentiment while investors braced themselves for a key Federal Reserve announcement.
और पढो »
Wall St. advances ahead of Fed policy meetingBanks and tech helped lead Wall Street higher on Monday, while Boeing and Facebo...
और पढो »
GE shares drop after giving 2019 earnings forecast lower than Wall Street estimatesGeneral Electric gave shareholders an updated earnings forecast on Thursday.
और पढो »
Better economic data needed before Wall Street can rise back to all-time highsStocks kicked off 2019 with a bang, but markets will need improving economic data to make a run at last year's records.
और पढो »