Apple (AAPL) helped lead the way lower after the company acknowledged a glitch with its new Apple Watch that hindered wireless connectivity and caused digital assistant Siri to not respond to queries.
In addition to leaving the federal funds rate unchanged, the Federal Open Market Committee said that it would begin unwinding its massive balance sheet in October, beginning with a reduction of up to $10 billion a month.
KB Home (KBH) disclosed that it cut the annual bonus of CEO Jeff Mezger after his rant against comedian Kathy Griffin went viral. Mezger can be heard on tape berating Griffin after her boyfriend called the cops on Mezger, their neighbor, over a children's' party that was supposedly too loud.
Mezger's annual bonus was cut by 25% and the company said that he would be fired for any similar actions in the future.