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U.S. stocks open mixed after Fed statement

Xinhua, March 19, 2015 Adjust font size:

U.S. stocks opened mixed on Thursday following a dovish statement from the U.S. Federal Reserve, which indicated it was in no rush to raise interest rates.

U.S. stocks swung sharply to gains Wednesday, as investors were relieved by Fed Chair Janet Yellen's dovish outlook.

In its statement on monetary policy Wednesday, the Fed dropped its promise to remain "patient" before raising interest rates.

"Just because we're not using the word 'patient' doesn't mean we're going to be impatient," said Yellen at a press conference following the statement's release.

The Fed said it will "be appropriate" to raise interest rates when it has seen further improvement in the labor market and is "reasonably confident" that inflation will move back to its target of 2 percent in the medium term.

In corporate news, Apple officially began trading as a member of the Dow Jones Industrial Average, replacing AT&T in the index. Apple's shares were up 0.44 percent in the early session.

Shortly after the opening bell, the Dow Jones Industrial Average shed 64.57 points, or 0.36 percent, to 18,011.62. The S&P 500 lost 5.82 points, or 0.28 percent, to 2,093.68. The Nasdaq Composite Index edged up 5.07 points, or 0.10 percent, to 4,987.90. Endi