NEW YORK, Jan. 31 (Xinhua) -- U.S. stocks ended lower on Wednesday, on the central bank's anticipated decision to hold rates steady, and Fed Chair Jerome Powell's hint that the central bank would not begin cutting rates at its next meeting in March.
The Dow Jones Industrial Average fell 317.01 points, or 0.82 percent, to 38,150.3. The S&P 500 sank 79.32 points, or 1.61 percent, to 4,845.65. The Nasdaq Composite Index shed 345.89 points, or 2.23 percent, to 15,164.01, as disappointing earnings from Alphabet, Microsoft, and AMD weighed on the market, while Tesla dipped further after a legal setback for Elon Musk's hefty pay package.
