After The Bell: Stocks Turn Negative Late In Session After Fed Keeps Rates Unchanged
(CBS) -- Stocks closed slightly lower Wednesday, continuing their longest losing streak since February, as the Federal Reserve kept interest rates unchanged at its June meeting.
The S&P 500 lost 3, the NASDAQ shed 8 and the Dow Jones industrial average closed down nearly 35 points, settling to 17,640.
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"The Fed really doesn't have a clear path on what to do going forward. They are trying to raise interest rates, they want to get interest rates higher because they feel that the underlying economic growth supports higher interest rates, but the unemployment numbers that came out a couple of weeks ago were exceptionally weak," says Andrew Busch, Editor of "The Busch Update."
He adds that the so-called Brexit vote is also adding to all the uncertainty surrounding financial market right now.
