U.S. Stocks Come Under Pressure In Late-Day Trading After Fed Rate Hike

Stocks turned in a strong performance throughout much of the trading day on Wednesday but came under pressure in the latter part of the session. The major averages pulled back well off their highs of the session and into negative territory.

The Dow led the way lower, slumping 631.21 points or 1.2 percent to a three-month closing low of 51,461.90. The S&P 500 fell 33.92 points or 0.5 percent to 7,551.81, its lowest closing level in well over a month, while the tech-heavy Nasdaq posted a more modest loss, edging down 3.15 points or less than a tenth of a percent to 25,978.42.