U.S. stocks are edging lower after the Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy in September. The S&P 500 was down 0.6% in Wednesday afternoon trading,

U.S. stocks added to losses on Wednesday, with the Nasdaq down more than 1%, after the Federal Reserve held interest rates steady and gave little insight into when further reductions in borrowing costs may take place.