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* Indices: Dow -0.28%, S&P 500 -0.40%, Nasdaq -0.71%
* (Fed policy response market updates)
By Noel Randevich
September 18 (Reuters) – US stocks boosted their losses on Wednesday after the Federal Reserve cut interest rates by a quarter percentage point on a widely anticipated move. but gave mixed signals about what might happen next.
Continuing economic growth and strong hiring of "most likely results," the Fed nevertheless cited "uncertainty" about prospects and promised to "act as needed" to support expansion. .
Expectations for lower percentages supported the rally on Wall Street this year, with the S&P 500 benchmark already around 1% below its record high in July.
At 14:03 ET, the Dow Jones Industrial Average decreased by 0.28% at 27 039.09 points, while the S&P 500 lost 0.40% to 2,993.59.
The Nasdaq Composite dropped 0.71% to 8,128.16.
Prior to the Fed announcement, the S&P 500 had a decline of about 0.3%.
Ten of the 11 major sectors of research were in red.
Earlier in the day, the central bank injected more money into the banking system, as the basic interest rate was drilled above the target range for the first time since the financial crisis. This puts pressure on policy makers to come up with long-term corrections to reduce funding. (Additional coverage by Meja Singh and Barn Warwick in Bengaluru Edit by Nick Zieminski)