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.
Copyright © 2017 MarketWatch, Inc.
Continue Reading Below