U.S. stocks declined on Wednesday afternoon, a day after the S&P 500 took its biggest hit in more than three weeks, as the energy sector expanded losses after U.S. crude settled at its lowest since March 2009.
The Federal Open Market Committee stuck to its vow to be “patient” on hiking interest rates and raised its view of the economy and labor market, even as the central bank said it anticipates inflation to fall further in the near term.
“The Fed did lean towards letting the market know it’s likely to remain accommodative; the real debate is going to take place in June,” Michael Arone, chief investment strategist for State Street Gobal Advisors’ U.S. intermediary business.
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