The Dow Jones industrial average fell for the first time in 10 days on Thursday, closing lower even after a small gain after the open of trading took the benchmark to a new record.
The Dow fell 53.36 points to close at 22,359.23 following a nine-day span that saw the average jump more than 600 points. Apple and Procter & Gamble contributed the most to the losses on Thursday.
The S&P 500 dropped 0.3 percent to end at 2,500.6, with shares of major technology, telecommunications and consumer staples companies all weighing down the index. The Nasdaq composite fell 0.52 percent to close at 6,422.69, with shares of Microsoft, Amazon and Facebook all down.
The Fed announced Wednesday it will begin rolling off its $4.5 trillion balance sheet starting in October. The central bank did not raise its benchmark interest rate from its current 1 percent to 1.25 percent target, however, its updated rate forecast showed that another hike this year is likely.