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Indexes Reverse Lower After Fed Statement; Apple Holds Strong, PayPal Dives
The Nasdaq, S&P 500 and Dow faded badly in afternoon trading Wednesday after the Fed, as expected, decided to stand pat on interest rates.
Apple stock and the Fed meeting were focal points for the stock market Wednesday, but overall, it was a bearish close for the indexes despite strong earnings from Apple.
The Dow and S&P 500 are holding just above their 200-day moving averages, while the Nasdaq on Wednesday marked its ninth straight close below the 50-day line.
https://www.investors.com/market-trend/stock-market-today/stock-market-today-apple-earnings-fed-meeting/
