Wall Street gives up gains and ends lower

US stock indices fell on Thursday after earlier gains with investors assessing the Federal Reserve’s economic outlook. 

The Fed decided to maintain the interest rate unchanged at below 4.5% while expecting two interest rate cuts this year. It also raised its inflation outlook while reducing its US growth outlook.

US 10-year treasury yields fell by 7 basis points to 4.185%, while two-year rates fell by 5 basis points to 3.928%.

Earlier government data showed US unemployment claims rose by two thousand to 223 thousand last week, while analysts expected 225 thousand. 

At the close, Dow Jones fell 0.1%, or 11 points to 41,953 points, with a session-low at 41695 points.

S&P 5900 fell 0.2%, or 12 points to 5663 points, with a session-low at 5632 points.

NASDAQ dropped 0.3%, or 59 points to 17,691 points, with a session-low at 17,577 points.