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U.S. stocks open lower after Fed decision

Xinhua, June 16, 2016 Adjust font size:

U.S. stocks opened lower Thursday as Wall Street continued to assess the Federal Reserve's decision to leave interest rates unchanged.

Shortly after the opening bell, the Dow Jones Industrial Average fell 76.77 points, or 0.44 percent, to 17,563.40. The S&P 500 lost 8.87 points, or 0.43 percent, to 2,062.63. The Nasdaq Composite Index decreased 23.44 points, or 0.48 percent, to 4,811.49.

In Wednesday's statement released after the Fed's policy meeting, Fed officials gave a mixed assessment about the U.S. economy, saying that the labor market has slowed its improvement pace, while growth in economic activity appeared to have picked up since April.

The Fed continued to lean toward hiking rates, but its six members now believe there will be just one rate hike this year.

On the economic front, the Consumer Price Index for all urban consumers increased 0.2 percent in May on a seasonally adjusted basis, the U.S. Labor Department said Thursday.

On Wednesday, U.S. stocks reversed early gains to end lower following the Fed's decision, with all three major indices notching a five-day losing streak. Endi