Wall Street slips on hawkish Fed; banks, industrials top losers

The Dow Jones Industrial Average was down 217.37 points, or 0.63%, at 34,279.14

The S&P 500 and the Dow slipped on Thursday, with shares of banks, industrials and airlines leading declines on concerns that the Federal Reserve's aggressive monetary policy might weigh on economic growth.

The blue-chip Dow was the biggest loser among the three major indexes and was dragged down by Goldman Sachs , Honeywell International and Boeing.

The tech-heavy Nasdaq steadied after shedding nearly 4.5% over the past two sessions. Market-leading growth stocks have taken a hit this week after comments from Fed policymakers and minutes from the central bank's March meeting suggested a rapid removal of stimulus measures put in place during