Bank shares weigh on S&P 500 after Fed rate hike

NEW YORK (Reuters) - The S&P 500 dipped on Wednesday under pressure from the financial sector after the Federal Reserve made a widely expected interest rate hike but kept its rate outlook for coming years even as it projected faster U.S. economic growth.

The Dow Jones Industrial Average <.DJI> rose 81.11 points, or 0.33 percent, to 24,585.91, the S&P 500 <.SPX> lost 1.21 points, or 0.05 percent, to 2,662.9 and the Nasdaq Composite <.IXIC> added 13.48 points, or 0.2 percent, to 6,875.80.

(Reporting by Sinead Carew; Editing by James Dalgleish)