NEW YORK (TheStreet) -- Stocks failed to hold gains made after the Federal Reserve left rates unchanged and signaled its readiness to enact accommodative policies if needed.
The Dow Jones Industrial Average finished 7 points, or 0.07% higher at 10,761 while both the S&P 500 and the Nasdaq lost ground. The S&P 500 shed 3 points, or 0.3%, to 1140, and the Nasdaq lost 7 points, or 0.3%, to 2349.
The U.S. dollar tanked against a basket of currencies following the Fed's announcement, with the dollar index last down over 1%.
In its much-anticipated rate decision and outlook statement, the Federal Open Market Committee said that the pace of recovery had slowed in the last few months and that it would maintain its target rates at zero to 0.25%. Additionally, the FOMC paved the way to "provide additional accommodation if needed."
|Federal Reserve Chairman Ben Bernanke|
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