Wall Street drops in wake of Fed statement | Reuters

NEW YORK Wall Street dropped sharply on Wednesday after the U.S. Federal Reserve frustrated investors hoping for a strong sign it might scale back future interest rate hikes because of recent financial and economic turmoil.

The Dow Jones industrial average .DJI fell 222.77 points, or 1.38 percent, to 15,944.46, the S&P 500 .SPX lost 20.66 points, or 1.09 percent, to 1,882.97 and the Nasdaq Composite .IXIC dropped 99.51 points, or 2.18 percent, to 4,468.17.

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)

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Updated Date: Jan 28, 2016 03:00 AM

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