Wall Street trading volatile after Fed statement

(Reuters) - U.S. stocks briefly climbed to new session highs before turning lower in volatile trading on Thursday after the Federal Reserve held off from raising interest rates.

The Dow Jones industrial average fell 41.69 points, or 0.25 percent, to 16,698.26, the S&P 500 lost 3.49 points, or 0.17 percent, to 1,991.82 and the Nasdaq Composite dropped 1.77 points, or 0.04 percent, to 4,887.47.

(Reporting By Sinead Carew; Editing by Nick Zieminski)