The Nasdaq managed to hold onto a good chunk of its gains and registered a closing record high for a third straight session
The S&P 500 was off as much as 0.8% before the Fed statement.
“I noticed a material downward move in the banks as talked about yield curve control. That is not something the banks want to see. What it does is it keeps rates down,” said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. FILE PHOTO: Traders work inside posts, on the first day of in-person trading since the closure during the coronavirus disease outbreak on the floor at the New York Stock Exchange in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid
The S&P 500 posted 17 new 52-week highs and no new lows; the Nasdaq Composite recorded 92 new highs and three new lows.
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