Stocks stabilize on Wall Street after a sell-off
NEW YORK -- The steep losses stopped Wednesday as the stock market turned calm, a day after one of its biggest sell-offs of the year. Indexes ended with slight losses after the Federal Reserve said the U.S. economy still needs support.
The Dow Jones industrial average closed down 25.19 points at 13,077.34, a day after one of its worst drops this year.
The Standard & Poor's 500 index fell 4.36 points to close at 1,408.75 while the Nasdaq composite index fell 8.76 points to 2,991.70.
The market flitted between small gains and losses for much of the day. Indexes started to fade after 2 p.m., after the Fed repeated its assessment that the U.S. economic recovery remains modest at best.