Stocks end mixed after Fed notes progress on the economy

The Standard & Poor’s 500 index slipped less than 0.1% after giving up a brief afternoon gain. The Dow Jones industrial average fell 0.4%, while the Nasdaq composite rose 0.7%. The yield on the 10-year Treasury note held steady at 1.23%.

The Fed also noted that vaccinations were helping the economy, but it dropped a sentence in its statement that it had included after its previous meeting that said those vaccinations have reduced the spread of COVID-19. That was the only reference to the delta variant that has caused a surge in COVID-19 cases in several hotspots in the United States and many other countries.

The S&P 500 slipped 0.82 points to 4,400.64. The benchmark index remains within 0.5% of the all-time high it set Monday. The Dow lost 127.59 points to 34,930.93, while the Nasdaq rose 102.01 points to 14,762.58. “Maybe the worry was that the Fed would sound more hawkish and raise rates, which would have more of an adverse impact on small-caps, which have to borrow more than large-caps,” Stovall said.

What happened to the collapse of the economy, that was going to take place if Trump wasn’t re-elected

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