Stocks Ended Lower after Fed Kept Rate Path

U.S. stocks closed lower on Thursday, a day after the Federal Reserve left interest rates unchanged and outlined its plan to start reducing its massive balance sheet in October. The Dow Jones Industrial Average declined 53.36 points, or 0.24%, to 22,359.23. The S&P 500 shed 7.64 points, or 0.30%, to 2,500.60. The Nasdaq Compositeslipped 33.35 points, or 0.52%, to 6,422.69.

U.S. oil prices settled modestly lower Thursday, as traders looked to the production-cut agreement led by OPEC to further tighten global crude supplies. November West Texas Intermediate crude lost 14 cents, or 0.3%, to settle at $50.55 a barrel. November Brent crude edged up by 14 cents, or 0.3%, to end at $56.43 a barrel.