4/28, 10:00 PM (Source: TeleTrader)
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US closes lower amid Fed update, earnings

Major Wall Street stock markets closed lower on Wednesday after the Federal Open Market Committee (FOMC) decided to maintain interest rates near zero, in line with expectations.

Federal Reserve Chair Jerome Powell stated that the Fed intends to keep its asset purchase program as is until it sees "substantial further progress". Meanwhile, the Biden Administration unveiled the details of its $1.8 billion American Families Plan intended to help American families, children, and workers.

The Dow Jones ended the session 0.48% lower while the Nasdaq 100 fell 0.42% with Amgen plummeting 7.22% on both fronts. Meanwhile, the S&P 500 closed with a 0.08% loss and Emphase Energy suffering a 14.14% drop. The euro gained 0.30% to the dollar to sell for $1.21272 at 3:58 pm ET.

Breaking the News / IV