US stocks extend losing streak after Fed decision

US stocks turned negative in the final trading hour and closed lower for fifth day in a row on Wednesday, after the Federal Reserve left pólicy unchanged.

The Dow Jones Industrial Average lost 34.65 points, or 0.20%, to end at 17,640.17. The S&P 500 Index fell 3.82 points, or 0.18%, to close at 2,071.50. The Nasdaq Composite shed 8.62 points, or 0.18%, to finish at 4,834.93.

The Fed decided to keep the target for the fed funds unchanged at 0.25-0.50% in June. The FOMC noted that labor market has slowed despite economic pickup and reiterated the economy will warrant only gradual increases in the federal funds rate.

Chair Yellen said that “every meeting is live,” and it is not Impossible that by July meeting data is more positive.