U.S. Stocks Hold Modest Losses After Fed Statement

U.S. stocks held modest losses after the Federal Reserve left key interest rates unchanged and gave little clue on the timing of its next rate hike. In the accompanying statement the Fed noted "labor market conditions have improved further even as growth in economic activity appears to have slowed." The S&P 500 was down 5 points, or 0.2%, to 2,086. The Dow Jones Industrial Average was flat at 17,992. Meanwhile, the Nasdaq Composite was off by 52 points, or 1.1%, to 4,836.