NYSE Closes Lower Following Fed Statement

The New York Stock Exchange (NYSE) showed a mixed performance on Wednesday, after the Federal Reserve kept interest rates unchanged at a historically low level near 0%, vowing to continue to use its full range of tools to support the economy on the road to recovery from the coronavirus crisis.

The Dow Jones Industrial Average lost 127.59 points, or 0.4%, to finish at 34,930.93 points, erasing earlier gains, while the S&P 500 index closed nearly unchanged at 4,400.64 points.

Meanwhile, the Nasdaq Composite index added 102.01 points, or 0.7%, and settled at 14,762.58 points, amid a positive performance by tech stocks.

Wall Street investors are relatively optimistic by the Fed’s not rushing to scale back its large support measures, with the low-interest rates and huge asset purchases at $120 billion a month.

However, taper talks are weighing on the market, after Fed Chairman Jerome Powell pointed to the continuous risks from the pandemic and the spreading Delta variant.