Wall Street dips in wake of Fed statement

US stocks opened modestly lower on Thursday in the wake of a rally in the prior session after the Federal Reserve cut economic growth and inflation projections and indicated it was in no rush to hike interest rates.

The Dow Jones industrial average fell 55.97 points, or 0.31 percent, to 18,020.22, the S&P 500 lost 6.19 points, or 0.29 percent, to 2,093.31 and the Nasdaq Composite added 1.00 points, or 0.02 percent, to 4,983.82.