The stock market retreated from all-time highs Wednesday after the Federal Reserve said the U.S. economy still needed help from its stimulus program.

The stock market retreated from all-time highs Wednesday after the Federal Reserve said the U.S. economy still needed help from its stimulus program.

The Fed said it would "await more evidence" that the economy was improving before starting to pull back its $85 billion in monthly bond purchases, which are aimed at keeping long-term interest rates low to encourage hiring, investment and spending.

The Dow lost 61.59 points, or 0.4 percent, to close at 15,618.76.

The S&P 500 index fell 8.64 points, 0.5 percent, to 1,763.31.

The Nasdaq composite fell 21.72 points, or 0.6 percent, to 3,930.62.

For the week so far:

The Dow is up 48.48 points, or 0.3 percent.

The S&P 500 is up 3.54 points, or 0.2 percent.

The Nasdaq is down 12.74 points, or 0.3 percent.

For the year so far:

The Dow is up 2,514.62 points, or 19.2 percent.

The S&P 500 is up 337.12 points, or 23.6 percent.

The Nasdaq is up 911.11 points, or 30.2 percent.