(MENAFN)
U.S. stocks have closed mixed on Wednesday as the Federal Reserve has cut its interest rates for the 2nd time this year.
The Dow Jones Industrial Average added 0.13 percent to reach 27,147.08 points. The S&P 500 rose 0.03 percent to set at 3,006.73 points. The Nasdaq Composite Index dropped 0.11 percent to close at 8,177.39 points.
6 out of the 11 primary S&P 500 sectors increased, with utilities and financials adding 0.47 percent and 0.43 percent respectively, outpacing the rest. Energy lost 0.42 percent and had the worst performance in the group.
The U.S. central bank cut interest rates by 25 basis points in the middle of increasing risks and uncertainties coming from trade tensions and an international economic slowdown, following a rate cut in July that was its first in more than a decade.
MENAFN1909201900450000ID1099024130
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.