(CNBC) -- Stocks closed little changed on Wednesday after the Federal Reserve failed to signal it will cut rates again in 2019, disappointing traders.
The S&P 500 ended the day just above the flatline at 3,006.73. The Dow Jones Industrial Average rose just 36.28 points, or 0.1% to 27,147.08. The Nasdaq Composite closed 0.1% lower at 8,177.39. The S&P 500 and Nasdaq fell as much as 0.% and 1.2%, respectively. The Dow briefly fell 211.65 points, or 0.8%.
“I think the market got into its head it wanted more rate cuts,” said Drew Matus, chief market strategist at MetLife Investment Management. “Market participants and economists are seeing two different things.”
Advertisement - story continues below