Dow stages post-Fed-meeting retrenchment as Apple's stock slide exacts a more than 25-point toll
The Dow Jones Industrial Average gave up firmer gains to close out Wednesday trade, as shares of Apple Inc. fell sharply. Apples shares finished down 2.3%, or $3.97, cutting about 27 points from the price-weighted average. A $1 move in any one of the benchmark's components equates to a swing of 6.89 points. The Dow ended the volatile session down by about 45 points, or 0.2%, at 24,682, while the S&P 500 index closed off 0.2% at 2,711. The technology-laden Nasdaq Composite Index wrapped off 0.3% at 7,345. All of the benchmarks had enjoyed firmer gains in the immediate aftermath of the Federal Reserve's updated policy statement and quarter-point rate increase, moves that had been expected.