Stock Markets Are Little Changed After Fed Decision The slightness of the moves suggests that Wall Street will go back to worrying whether the Fed will raise interest rates later this year.
Fed's Hesitance, Not Its Decision, Surprises Economists While many on Wall Street expected the Fed to delay raising rates, few expected its language about future moves to be so dovish.
The Dow Jones industrial average and S&P 500 closed lower, while the Nasdaq Composite eked out mild gains. The major indices gave back gains of more than 1 percent from session highs, amid Yellen's press conference.
Stocks initially fluctuated between slight gains and losses in the minutes after the Fed statement showed the central bank kept interest rates unchanged.
"I think the stock market would like the Fed to have a statement with a vote of confidence in the U.S. economy. I think they were a little surprised. I think the stock market is a little confused right now. I don't think this statement removed much uncertainty," said John Bredemus, vice president, Allianz Investment Management. "I think the uncertainty is around whether the U.S. economy can continue to grow given the weakness in the global economy."
Read More Fed holds off, markets now betting on hike in 2016
It's "yet another Fed meeting and another punt. Investors will have to deal with the uncertainty of when a rate hike is going to occur," said Mike Baele, senior portfolio manager at the Private Client Reserve at U.S. Bank.