How major US stock indexes fared Wednesday

Stocks closed lower on Wall Street Wednesday after a brief rally faded in the last hour of trading and losses by technology companies outweighed gains in banks and elsewhere in the market

Stocks closed lower on Wall Street Wednesday after a brief rally faded in the last hour of trading. Losses by technology companies outweighed gains in banks and elsewhere in the market.

The decline snapped a three-day winning streak for the S&P 500, and followed the Federal Reserve’s latest interest rate policy update. Stocks initially got a boost after the central bank signaled it will keep interest rates near zero into 2023 and issued a slightly less dire outlook for economic growth and unemployment this year.

On Wednesday:

The S&P 500 lost 15.71 points, or 0.5%, to 3,385.49.

The Dow Jones Industrial average rose 36.78 points, or 0.1%, to 28,032.38.

The Nasdaq composite lost 139.85 points, or 1.3%, to 11,050.47.

The Russell 2000 index of small company stocks gained 14.17 points, or 0.9%, to 1,552.33.

For the week:

The S&P 500 is up 44.52 points, or 1.3%.

The Dow is up 366.74 points, or 1.3%.

The Nasdaq is up 196.92 points, or 1.8%.

The Russell 2000 is up 55.06 points, or 3.7%.

For the year:

The S&P 500 is up 154.71 points, or 4.8%.

The Dow is down 506.06 points, or 1.8%.

The Nasdaq is up 2,077.86 points, or 23.2%.

The Russell 2000 is down 116.14 points, or 7%.