India, June 17 -- Stocks saw significant volatility immediately following the Federal Reserve's monetary policy announcement on Wednesday but came under considerable selling pressure in the latter part of the trading session.
The major averages all showed significant moves to the downside, closing firmly in negative territory. The Nasdaq plunged 354.69 points or 1.3 percent to 26,021.66, the S&P 500 tumbled 91.25 points or 1.2 percent to 7,420.10 and the Dow slumped 507.12 points or 1 percent to 51,492.55.
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