Fed's mixed signals on next move send Wall Street lower

REUTERS: Wall Street sank on Wednesday as Federal Reserve policymakers gave mixed signals about their next move after cutting interest rates by a quarter of a percentage point in a widely expected move.

"The main concern is there might not be another cut, and that's why you had a little bit of a sell-off," said Alan Lancz, President of Alan B. Lancz and Associates in Toledo, Ohio."But it's almost like selling on good news. They left the door open for more cuts. It's a really divided Fed right now."

At 3:04 pm EDT , the Dow Jones Industrial Average was down 0.52per cent at 26,970.61 points, while the S&P 500 lost 0.62per cent to 2,986.93.Ten of the 11 major S&P sectors were in the red, with the S&P utilities index up 0.3per cent and alone among gainers. The S&P industrial index fell 1per cent, leading decliners.

Beyond Meat dropped 5.2per cent after Restaurant Brands International Inc's Tim Hortons cut the faux meat maker's burgers and sandwiches from its menu in most Canadian provinces, months after a nationwide roll-out at the breakfast chain.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street sinks after Fed gives mixed signals on next moveU.S. stocks came under pressure on Wednesday as investors waited for the Federal Reserve's decision on interest rates and clues about its future ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street ticks lower as FedEx warns on profit; Fed on tapREUTERS: U.S. stocks edged lower at open on Wednesday, pressured by FedEx's warning on full-year profit, while investors waited for the Federal ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US: Wall Street ticks lower as FedEx warns on profit; Fed on tap[NEW YORK] US stocks edged lower at open on Wednesday, pressured by FedEx's warning on full-year profit, while investors waited for the Federal Reserve's decision on interest rates. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Wall Street edges lower as FedEx profit warning drags; Fed in focusREUTERS: U.S. stocks came under pressure on Wednesday after FedEx issued a profit warning, while investors waited for the Federal Reserve's ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street subdued as focus shifts to FedU.S. stocks were little changed on Tuesday as investors moved to the sidelines ahead of the Federal Reserve's two-day policy meeting, while the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US: Wall Street drops at open; Fed in focus[NEW YORK] US stocks fell at open on Tuesday as investors stayed away from making big bets ahead of the Federal Reserve's two-day policy meeting, where it is widely expected to cut interest rates. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »