(Reuters)
U.S. stocks declined sharply on Wednesday after the Federal Reserve’s forecast of fewer interest-rate increases in 2019 fell short of investors’ hopes of a more dovish monetary policy.
The Dow Industrials .DJI closed at their lowest level since November 2017. The Dow Transports .DJT plunged 3.2 percent to confirm bear market territory, down nearly 21 percent from their record high on Sept. 14.
The benchmark S&P 500 index .SPX is now down 14.5 percent from its record closing high on Sept. 20. Of its components, 298 have fallen 20 percent or more from their 52-week highs. On the New York Stock Exchange and the Nasdaq, more than 2,000 stocks hit 52-week lows on Wednesday. Read more
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