Stocks wipe out gains after Fed signals rate hike in March

The S&P 500 index, battered in five of the last six trading sessions, also turned negative and ended the day with a 6.52-point decline, or 0.2 percent, to 4,349.93. The tech-heavy Nasdaq composite index, which has taken steep losses as investors rotated away from pricey stocks that have been pandemic favorites, eked out a 2.82-point advance, or 0.02 percent, to settle at 13,542.12.