NEW YORK, N.Y. – Stocks gave up modest gains and turned lower in late afternoon trading Wednesday, giving the market its fifth straight decline. Earlier, the Federal Reserve stood pat on interest rates, as many had expected.
The Dow Jones industrial average lost 34.65 points, or 0.2 per cent, to 17,640.17.
The Standard & Poor’s 500 index lost 3.82 points, or 0.2 per cent, to 2,071.50.
The Nasdaq composite fell 8.62 points, or 0.2 per cent, to 4,834.93.
For the week:
The Dow is down 225.17 points, or 1.3 per cent.
The S&P 500 has fallen 24.57 points, or 1.2 per cent.
The Nasdaq is down 59.62 points, or 1.23 per cent.
For the year:
The Dow is up 215.14 points, or 1.2 per cent.
The S&P 500 is up 27.56 points, or 1.4 per cent.
The Nasdaq is down 172.48 points, or 3.4 per cent.