US stocks mixed after Fed statement

U.S. stocks edged mostly lower in afternoon trading today after the Federal Reserve's latest policy announcement. The central bank reiterated that it will be patient in raising rates from record lows, but it also voiced new concerns about low inflation.

The Dow Jones industrial average added eight points, or 0.1 percent, to 17,395 as of 2:13 p.m. Eastern. The Standard & Poor's 500 slipped three points, or 0.2 percent, to 2,025. The Nasdaq composite added 11 points, or 0.2 percent, to 4,692.

In a statement after its latest policy meeting, the Fed noted it would remain "patient" in raising rates from near zero. It also expressed greater concern about excessively low inflation. Inflation has stayed ultra-low partly because of a plunge in energy prices and a steadily strengthening dollar. Many economists have forecast a Fed rate hike in June but some have pushed back that timetable. When interest rates remain low they tend to make stocks more attractive in comparison with bonds.

Six of the 10 sectors in the S&P 500 fell, with energy stocks dropping the most as the slide in oil prices resumed. The sector is down 4.4 percent this year. Technology stocks led the gainers. The sector is coming off a steep decline on Tuesday.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.76 percent.