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Stocks recovered from their worst levels but still finished lower Wednesday in choppy trading, after minutes of the Federal Reserve's latest meeting offered no strong hints about more easing to prop up the sluggish economy.
The Dow Jones Industrial Average slid 48.59 points, or 0.38 percent, to close at 12,604.53, logging its fifth-straight down day, dragged by United Tech and Boeing. The blue-chip index was down more than 100 points at its session low.
The S&P 500 erased 0.02 points, or 0.001 percent, to end at 1,341.45. The Nasdaq fell 14.35 points, or 0.49 percent, to finish at 2,,887.98. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded below 18.
Among the key S&P sectors, energy ended higher, while industrials slipped.
"It's obvious the Fed is deeply concerned with what is happening and they also know they need to dance a fine line," said Todd Schoenberger, managing principal The BlackBay Group. "The risk is greater by not doing anything."
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