NEW YORK — U.S. stock indexes closed with modest changes Wednesday after the Federal Reserve announced its first interest rate cut of the year.
The tech-heavy Nasdaq slipped 0.33%, while the broad S&P 500 edged down 0.10%. The Dow Jones Industrial Average, weighted toward traditional industries, rose 0.57%, according to the Wall Street Journal.
The Fed lowered its benchmark interest rate by 0.25 percentage points, setting it in a range between 4.0% and 4.25%. The move comes despite inflation remaining above the central bank’s target.
An updated forecast released alongside the decision suggests the Fed may implement two more rate cuts before the end of the year.