U.S. stocks fall as investors assess Fed's rate path

By Trend

U.S. stocks dropped on Thursday as investors cautiously assessed the Federal Reserve's policy path, Trend reports citing Xinhua.

The Dow Jones Industrial Average slid 146.51 points, or 0.46 percent, to 32,001.25. The S&P 500 lost 39.80 points, or 1.06 percent, to 3,719.89. The Nasdaq Composite Index fell 181.86 points, or 1.73 percent, to 10,342.94.

Six of the 11 primary S&P 500 sectors ended in red, with technology and communication services down 3 percent and 2.83 percent, respectively, leading the laggards. Energy rose 2.04 percent, the best-performing group.

The Fed on Wednesday raised its benchmark rates by 75 basis points for the fourth consecutive meeting, setting the federal funds target range between 3.75 percent and 4 percent.