Bank shares weigh on S&P 500 after Fed rate hike

NEW YORK: The S&P 500 dipped on Wednesday under pressure from the financial sector after the Federal Reserve made a widely expected interest rate hike but kept its rate outlook for coming years even as it projected faster US economic growth.

The Dow Jones Industrial Average rose 81.11 points, or 0.33 percent, to 24,585.91, the S&P 500 lost 1.21 points, or 0.05 percent, to 2,662.9 and the Nasdaq Composite added 13.48 points, or 0.2 percent, to 6,875.80.