U.S. Stocks End Mostly Lower After Fed Rate Hike

By Anora Mahmudova Markets MarketWatch Pulse

U.S. stocks closed mostly lower on Wednesday after the Federal Reserve raised its key interest rate by a quarter of a percentage point while signaling at least one more rate hike later this year. The Fed officials agreed on a plan to reduce its $4.5 trillion balance sheet in a "gradual" and "predictable" manner. The S&P 500 closed 2.44 points, or 0.1%, lower at 2,437.91 The Nasdaq Composite declined 25.48 points, or 0.4%, to 6,194.89. The Dow Jones Industrial Average bucked the trend, closing at a record high thanks to big gains in Home Depot, Inc , which rose 1.8%. The blue-chip index advanced 46.09 points, or 0.2%, to 21,374.56. Meanwhile, the yield on the 10-year Treasury note declined 7 basis points to to 2.14%, its lowest level since November.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.