US stocks closed lower Wednesday with investors concerned after the Federal Reserve kept open an interest rate hike in June following its policy meeting.

The Federal Reserve Open Market Committee (FOMC) released its meeting statement this afternoon that removed all calendar references and showed no new guidance on the timing of the rate hike.

The S&P 500 (SPX) closed 7.91 points, or 0.4%, lower at 2,106.85. Health care, consumer discretionary, and consumer staples companies led losers.

The Dow Jones Industrial Average (DJI) dropped 74.61 points, or 0.4%, to 18,035.53. Earlier, it briefly fell more than 150 points as all the major indices declined on the morning's weak GDP report.

The Nasdaq Composite (RIXF) ended the session down 31.78 points, or 0.6%, at 5,023.64.

The dollar fell more than 1 percent against major currencies. The euro continued to strengthen, climbing above $1.11 for the first time since March 5.

European equities extended losses as investors reacted to the steep gains in the euro against the dollar ahead of the FOMC statement.