Wall Street slips as Fed signals patience on rate cuts

4:10pm: Stocks close in the red US stocks closed lower on Thursday as the market struggled to extend its recent rebound rally. The Dow Jones fell 11 points, or 0.03%, to 41,953, while the S&P 500 dropped 12 points, or 0.2%, to 5,663, and the tech-heavy Nasdaq Composite declined 59 points, or 0.3%, to 17,692. The downturn came as investors digested the Federal Reserve’s latest…