How major US stock indexes fared Wednesday

How major US stock indexes fared Wednesday


Stocks fell and bond yields rose after the Federal Reserve lowered its key interest rate for the first time in a decade but left investors feeling uncertain about the likelihood of further cuts.

The quarter-point cut announced Wednesday was widely expected. What wasn't: Powell's said during a news conference that the central bank was not intending to embark on a long cycle of cutting rates.

On Wednesday:

The S&P 500 index dropped 32.80 points, or 1.1%, to 2,980.38.

The Dow Jones Industrial Average lost 333.75 points, or 1.2%, to 26,864.27.

The Nasdaq composite fell 98.19 points, or 1.2%, to 8,175.42.

The Russell 2000 index of smaller companies slid 10.99 points, or 0.7%, to 1,574.61.

For the week:

The S&P 500 is down 45.48 points, or 1.5%.

The Dow is down 328.18 points, or 1.2%.

The Nasdaq is down 154.79 points, or 1.9%.

The Russell 2000 down 4.36 points, or 0.3%.

For the year:

The S&P 500 is up 473.53 points, or 18.9%.

The Dow is up 3,536.81 points, or 15.2%.

The Nasdaq is up 1,540.14 points, or 23.2%.

The Russell 2000 is up 226.05 points, or 16.8%.

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