The Dow fell 171.71 points, or 0.38%, to 44,461.28, the S&P 500 lost 7.96 points, or 0.12%, to 6,362.90 and the Nasdaq gained 31.38 points, or 0.15%, to 21,129.67.
NEW YORK: US stocks closed well off earlier highs after a choppy session on Wednesday, as Federal Reserve chair Jerome Powell chilled expectations the central bank might be poised to cut rates at its September meeting.
In keeping rates unchanged, as was widely expected, the central bank said "the unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated," in a split decision that saw two governors dissent.
