US STOCKS-S&P 500 ends lower in Fed rally reversal

jueves 19 de marzo de 2015 16:29 GYT

* Energy shares lower on dollar strength, oil oversupply concern

* Guess posts strong quarterly earnings, shares rally

* Biotech sector leads Nasdaq higher

* Indexes: Dow off 0.65 pct, S&P off 0.5 pct, Nasdaq up 0.2 pct (Updates to market close)

By Rodrigo Campos

NEW YORK, March 19 (Reuters) - U.S. stocks fell on Thursday as a stronger dollar weighed on oil and other commodity prices, sending energy and materials sectors lower.

The greenback rose after a sharp decline on Wednesday. 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. U.S. stocks rose more than 1 percent on Wednesday after the Fed statement.

WTI crude fell 1.9 percent and Brent fell 2.6 percent as the dollar strengthened, and on concerns over excess supply. The S&P 500 energy index fell 1.7 percent.

"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.   Continuación...