U.S. stocks whipsawed throughout the day but closed lower on Thursday after the Federal Reserve left interest rates unchanged, and left investors uncertain about the timing of what would be the first rate hike in nearly a decade.The S&P 500 SPX, -0.26% rallied to 2,020 during Yellen’s news conference, but erased gains to close 5.11 points, or 0.3%, lower at 1,990.20. Six of the index’s 10 main sectors finished lower. Telecoms got hit, while utilities and health-care stocks led gains.
The regional bank sector didn’t take the news of no interest rate increase well. The SPDR S&P Regional Bank ETF KRE, -2.35% flipped from a gain of about 0.5% to a loss of 2.4% after Federal Reserve said it was standing pat. Banks benefit from higher rates.
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