The S&P 500 ended slightly lower on Wednesday, as an initial boost from the like...
NEW YORK - The S&P 500 ended slightly lower on Wednesday, as an initial boost from the likes of Apple, Boeing and General Electric following their quarterly results faded in the wake of a policy announcement from the Federal Reserve.
Stocks initially showed little reaction to the Fed’s policy statement but steadily lost ground on the heels of a news conference by chairman Jerome Powell. The Fed held rates steady as expected while offering no new guidance on its balance sheet, but Powell noted “uncertainties about the outlook remain” and noted the coronavirus outbreak in China.
Apple Inc gained 2.09% after the iPhone maker late on Tuesday reported earnings for the holiday shopping quarter that topped analysts’ expectations, even as it braced for more disruptions in virus-hit China.
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