U.S. stocks ended lower after the Federal Reserve's latest rate cut after the market rallied earlier in the session fueled by better-than-forecast corporate earnings and first-quarter U.S. economic growth.
The Dow Jones Industrial Average fell 11.81 points to 12,820.13. The S&P 500 lost 5.33 points to 1,385.61. The Nasdaq Composite shed 13.30 points to 2,412.80.
The U.S. Commerce Department said growth in real gross domestic product in the first quarter was estimated at 0.6 percent for the second straight quarter, ahead of the 0.2 percent growth rate expected by economists surveyed by Market Watch under the Dow Jones.
The Fed lowered its benchmark federal funds rate by a quarter percentage point, to 2 percent.
Analysts said the rate cute left markets guessing about whether further cuts would be needed.
Source: Xinhua
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