May 1, 2019 / 8:10 PM / 20 days ago

US STOCKS SNAPSHOT-Wall Street drops after Fed chair dampens rate-cut hopes

NEW YORK, May 1 (Reuters) - U.S. stocks ended lower on Wednesday and the S&P 500 snapped a three-day streak of record high closes as comments from Federal Reserve Chairman Jerome Powell dampened expectations the central bank could move later this year to cut interest rates.

The Dow Jones Industrial Average fell 163.04 points, or 0.61%, to 26,429.87, the S&P 500 lost 22.11 points, or 0.75%, to 2,923.72 and the Nasdaq Composite dropped 45.75 points, or 0.57%, to 8,049.64. (Reporting by Caroline Valetkevitch Editing by Bill Berkrot)

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