US STOCKS-Wall St ends down after Fed statement, GDP data
* Fed statement points to economic weakness
* First-quarter GDP growth lower-than-expected
* Indexes down: Dow 0.41 pct, S&P 0.37 pct, Nasdaq 0.63 pct (Updates to close)
By Caroline Valetkevitch
April 29 (Reuters) - U.S. stocks ended lower on Wednesday as the Federal Reserve cited weakness in the U.S. economy and data showed U.S. growth slowed more sharply than expected in the first quarter.
But the Fed's acknowledgement of weakness in some sectors of the economy makes it more likely it will not be ready to raise until at least September, which kept stocks from falling further.
"We all know the Fed would love to start normalizing rates, but the simple fact is, the data does not warrant that action right now," said Wayne Kaufman, chief market analyst at Phoenix Financial Services in New York.
While concerned about lingering economic weakness, U.S. investors also are worried about the possibility of the Fed raising interest rates too soon.
Seven of the 10 S&P 500 sectors ended lower, with just energy, financials and materials in positive territory. Continuación...