Telecommunications Services Sector Tops S&P 500 Losers

The telecommunications services sector was the worst loser in the S&P 500 on Thursday as the broader market hugged the flatline ahead of the Federal Reserve's monetary policy decision later in the session. Shares of Verizon Communications Inc. weighed down the sector, falling 3%, after the telecom giant said its 2016 earnings are likely to remain flat from 2015. Frontier Communications Corp. was another big loser, dropping 2.1% while AT&T Inc. and CenturyLink Inc. were both down more than 1%. Level 3 Communications Inc. was off 0.1%.

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