Fortune Nov. 9, 2018

Stock Indexes Fell on the Fed’s View on the Economy. Here’s Why

U.S. stocks closed off their early highs Thursday after the Federal Reserve issued a bullish view on the economy, while sounding a note of caution about a potential slowdown in business spending.

The S&P 500 Index closed down 7.06 points, or 0.3%, at 2,806.83 Thursday after rising as high as 2,814.75. The Dow Jones Industrial Average was unchanged, while the tech-heavy Nasdaq Composite closed down 0.5% at 7,530.88. The three indexes spent much of Thursday in positive territory before the Fed’s assessment.

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