Stocks Ended Lower as ECB Left Policy on Hold

U.S. stocks ended lower on Thursday after the European Central Bank kept key interest rates steady but disappointed investors who anticipated more stimulus measures. The Dow industrial average shed 46.23 points, or 0.25%, to 18,479.91. The S&P 500 slipped 4.86 points, or 0.22%, to 2,181.30. The Nasdaq Composite lost 24.44 points, or 0.46%, to 5,259.48.

The European Central Bank left its €1.7 trillion ($1.9 trillion) stimulus unchanged at a policy meeting Thursday, brushing off concerns over economic shock waves from Britain’s vote to leave the European Union and disappointing investors expecting the ECB to act again soon.

Wells Fargo will pay $185 million in penalties and $5 million to customers that regulators say were pushed into fee- generating accounts that they never requested, officials said on Thursday.

Pier 1 Imports (PIR) posted weaker-than-expected preliminary fiscal 2017 second quarter results. The company also announced that CEO Alex Smith is stepping down at the end of 2016. Net sales for the quarter fell approximately 6.7% year-over-year, a wider decline than Wall Street’s expectations of a 6% sales loss.