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Wall Street drops in wake of Fed statement

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Reuters NEW YORK

NEW YORK (Reuters) - Wall Street dropped sharply on Wednesday after the U.S. Federal Reserve frustrated investors hoping for a strong sign it might scale back future interest rate hikes because of recent financial and economic turmoil.

The Dow Jones industrial average <.DJI> fell 222.77 points, or 1.38 percent, to 15,944.46, the S&P 500 <.SPX> lost 20.66 points, or 1.09 percent, to 1,882.97 and the Nasdaq Composite <.IXIC> dropped 99.51 points, or 2.18 percent, to 4,468.17.

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)

 

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First Published: Jan 28 2016 | 2:37 AM IST

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