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U.S. stocks end mixed after Tuesday's selloff

Xinhua, September 15, 2016 Adjust font size:

U.S. stocks wavered and closed mixed on Wednesday, following a more than one percent sell-off on Tuesday, as Wall Street still pondered when the U.S. Federal Reserve would hike interest rate.

The Dow Jones Industrial Average shed 31.91 points, or 0.18 percent, to 18,034.84. The S&P 500 ticked down 1.24 points, or 0.06 percent, to 2,125.78. The Nasdaq Composite Index rose 18.52 points, or 0.36 percent, to 5,173.77.

Financial markets have been choppy in recent sessions on contrasting remarks by Fed officials before the central bank' s policy meeting.

Fed Governor Lael Brainard, a voting member of the central bank's policymaking committee, said in a speech earlier this week that while economic progress continues it would be wise for the Fed to keep monetary policy loose.

Atlanta Fed President Dennis Lockhart, however, said current economic conditions called for a "serious discussion" on rates at the September meeting, media reported.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, rose 1.62 percent to end at 18.14 on Wednesday.

Traders have expected a 15 percent rate hike in September, according to CME Group's FedWatch tool.

The Federal Open Market Committee, the Fed' s monetary policy arm, is set to meet on Sept. 20-21.

On the economic front, U.S. import prices declined 0.2 percent in August, after ticking up 0.1 percent in July, the Labor Department reported Wednesday. Prices for U.S. exports decreased 0.8 percent in August following a 0.2-percent increase in July. Enditem