NEW YORK (AP) — U.S. stocks are slumping Thursday morning as Wall Street continues to swirl after the Federal Reserve said it will keep interest rates at nearly zero for years to help nurse the wheezing economy.
The S&P 500 was 1.4% lower in morning trading. It follows up on a volatile day, where the index at first rose following the Fed’s announcement before giving out in the last hour of trading to drop to its first loss in four days.
The Dow Jones Industrial Average fell 313 points, or 1.1%, to 27,719, as of 9:42 a.m. Eastern time, and the Nasdaq composite was down 1.9%. The selling was widespread, and roughly 95% of the stocks in the S&P 500 were lower.