Adobe Systems Inc.

US stock indexes waver following Fed announcement

U.S. stocks are wavering between small gains and losses Wednesday afternoon as investors size up the Federal Reserve's latest economic and interest rate policy update.

The central bank's policymakers said they will likely raise rates one more time this year and will begin unwinding the Fed's large portfolio of bonds next month. That sent bond yields and banks and other financial companies higher. High-dividend stocks like household goods makers and utilities fell. Income-seeking investors find those stocks less appealing when bond yields move higher.

Technology stocks were down the most. Several packaged food companies also declined.

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