U.S. stocks fell, after a rally Wednesday on the Federal Reserve’s policy statement, as banks retreated and energy companies fell with the price of oil.
The Standard & Poor’s 500 Index slipped 0.5 percent to 2,089.40 at 4 p.m. in New York. The Nasdaq Composite Index rose 0.2 percent after briefly climbing above the 5,000 level again.
The S&P 500 is on track to go 22 consecutive sessions without back-to-back gains, the longest since a 23-day stretch in June 2010. It never fell four days in a row in 2014.
The dollar rebounded from its biggest drop versus the euro in six years. The Bloomberg Dollar Spot Index, a gauge of the currency’s performance against 10 major peers, gained 1.4 percent, halting a three-day drop.
The S&P 500 climbed 1.2 percent yesterday after the Fed said data suggest economic growth has moderated. The central bank said higher interest rates in April are unlikely and it won’t tighten until it is “reasonably confident” inflation will return to its target and the labor market improves further.
Source : Bloomberg