U.S. markets sour after Fed announcement

NEW YORK, June 25 (UPI) -- A modest rally in U.S. markets turned down after the Federal Reserve Open Market Committee said it would leave key lending rates unchanged at 2 percent.

The Dow Jones industrial average, up more than 100 points at 3 p.m. fell suddenly, closing 4.40 points or 0.04 percent up at 11,811.83.

The Nasdaq composite index closed 32.98 points or 1.39 percent higher at 2,401.26, while the Standard and Poor's 500 gained 7.68 points, or 0.58 percent, to 1,321.26.

On the New York Stock Exchange, 2,179 stocks advanced and 950 declined on volume of 1.399 billion shares traded.

The 10-year U.S. Treasury note was unchanged, yielding 4.103 percent.

The dollar fell. Against the euro, the dollar was at $1.5672 compared to Tuesday's close of $1.5572. Against the yen, the dollar was at $107.77, compared to Tuesday's $107.79.

In Tokyo, the Nikkei 225 Stock Average lost 0.14 percent to 13,829.92, down 19.64 points at Wednesday's close.

In London, the FTSE 100 index closed 31.40 points up at 5,666.10, a 0.56 percent gain.