US stocks fell on Thursday as a stronger dollar weighed on oil and other commodity prices, with energy and materials sectors shares leading the market lower. The greenback rose after a sharp decline on Wednesday, reversing the trades that took markets higher after the Federal Reserve appeared to be more dovish than expected even as it opened the door for a Fed Funds rate hike as soon as in June.
US stocks had rallied more than 1 percent on Wednesday after the Fed statement.
WTI crude and Brent fell more than 3 percent on the dollar strength and concerns over excess supply and the S&P 500 energy index fell 1.6 percent as the worst performing of the 10 major S&P 500 sectors.
"The forward path in interest rates is going to be slower than previously expected. The market celebrated that yesterday, and now it's wondering what comes next," said Kevin Caron, market strategist at Stifel, Nicolaus & Co in Florham Park, New Jersey.
At 2:08 pm, the Dow Jones industrial average fell 107.09 points, or 0.59 percent, to 17,969.1, the S&P 500 lost 9.59 points, or 0.46 percent, to 2,089.91 and the Nasdaq Composite added 10.97 points, or 0.22 percent, to 4,993.80.
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