U.S. Stocks Sell Off After Fed Meeting, Oil Slide

MarketWatch Pulse

U.S. stocks ended Wednesday's choppy trading session sharply lower after the Federal Reserve's policy-making committee reiterated it plans to remain patient and watch the data as it decides when to raise interest rates. Sharp losses come on the heals of declines on Tuesday, when markets sold off after disappointing earnings and economic data. A renewed slide in oil prices sent energy and materials stocks sharply lower. The S&P 500 closed 27.39 points, or 1.4%, lower at 2,002.23, with all 10 main sectors finishing in the red. The Dow Jones Industrial Average dropped 195.84 points, or 1.1%, to 17,191.37. The tech-heavy Nasdaq Composite turned a big opening advance into a big loss by the end of the session, falling 43.50 points, or 0.9%, to 4,637.99, as Apple's big gain was not enough to keep the index in the green.

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