How the Dow Jones industrial average and other major indexes fared on Wednesday

U.S. stocks dropped Wednesday following news that the economy skidded to a near halt in the first three months of the year, battered by harsh weather, plunging exports and sharp cutbacks in oil and gas drilling. Stocks stayed lower after the Federal Reserve downgraded its assessment of the economy and kept its key interest rate unchanged.

On Wednesday:

The Dow Jones industrial average fell 74.61 points, or 0.4 per cent, to close at 18,035.53.

The Standard & Poor’s 500 index dropped 7.91 points, or 0.4 per cent, to 2,106.85.

The Nasdaq declined 31.78 points, or 0.6 per cent, to 5,023.64.

For the week:

The Dow is down 44.61 points, or 0.3 per cent.

The S&P 500 is down 10.84 points, or 0.5 per cent.

The Nasdaq is down 68.44 points, or 1.3 per cent.

For the year:

The Dow is up 212.46 points, or 1.2 per cent.

The S&P 500 index is up 47.95 points, or 2.3 per cent.

The Nasdaq is up 287.59 points, or 6.1 per cent.