Indexes End the Day Down

After initially surging following Fed's announcement
By Newser Editors and Wire Services
Posted Mar 21, 2018 3:04 PM CDT
Trader Jonathan Corpina works on the floor of the New York Stock Exchange, Wednesday, March 21, 2018.   (AP Photo/Richard Drew)

(Newser) – Major US stock indexes mostly gave up early gains and ended lower as investors absorbed the first Federal Reserve meeting led by new Fed Chairman Jerome Powell, the AP reports. After initially surging Wednesday following the Fed's decision to edge its main interest rate higher, large-company stock indexes gave up those gains, wobbled some more, then ended slightly lower. Several big technology companies fared poorly. Apple lost 2.3% and Microsoft rose 0.7%. Small-company stocks fared well, and energy companies rose sharply along with the price of crude oil. The S&P 500 index edged down 5 points, or 0.2%, to 2,711. The Dow Jones industrial average slipped 44 points, or 0.2%, to 24,682. The Nasdaq composite fell 19 points, or 0.3%, to 7,345. (Read more stock market stories.)

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