Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.5%) has widened its loss for the day after a spike following the FOMC's decision to cut the target range for the fed funds rate saw the index briefly enter positive territory and come within three points of its all-time high (6,626.99). 

Losses have also widened in the Nasdaq Composite (-0.9%), and while the DJIA (+0.2%) established a new all-time high in the aftermath, it now trades at session lows. 

Breadth figures have worsened following the announcement of the FOMC decision. Advancers outpaced decliners by a greater than 2-to-1 ratio on the NYSE earlier in the session, but decliners now hold a roughly 7-to-6 edge, while advancers still hold a slim 4-to-3 advantage on the Nasdaq. 

As a result, smaller cap indices have given up much of their earlier gains. The Russell 2000 now holds a 0.5% gain, while the S&P Mid Cap 400 (-0.1%) moved beneath its flatline.