Indices closed fractionally in red territory on Wednesday. Stocks traded marginally lower in the wake of news from the Federal Reserve’s two-day meeting. The FOMC agreed to boost the target range for the Fed funds rate by 25 basis points to 1.5% to 1.75%, as anticipated. The Fed also revised its forecast for GDP growth this year from 2.5% to 2.7% and foresees expansion of 2.4% in 2019. In earnings moves, General Mills shed 8.85% today following the release of earnings details. Quarterly profit jumped 10% to 79 cents per share. Revenue climbed 2% to $3.88 billion, versus expectations of $3.89 billion. Looking elsewhere, existing-home sales ticked up in February. Total sales increased 3% last month and are up 1.1% from a year ago.