By Anora Mahmudova and Barbara Kollmeyer, MarketWatch

Energy stocks sell off as oil slide resumes

NEW YORK (MarketWatch) -- U.S. stocks generally pulled back after the Federal Reserve's policy-making committee reiterated it plans to remain patient and watch the data as it decides when to raise interest rates.

The Fed gave no sign that it is wavering on hiking interest rates sometime in the second half of 2015. The U.S. central bank was upbeat about the economy, while the policy makers repeated that they think inflation will move back to the 2% target after being pushed down by temporary factors.

The S&P 500 (SPX) was down 0.1% to 2,023, as big gains in the tech sector were offset by even bigger losses in energy stocks, as sliding oil prices hit that sector.

The Dow Jones Industrial Average (DJI) fell 0.3% to 17,382. Boeing Co (BA) was the top gainer, while Chevron (CVX) and Exxon Mobil Corp (XOM) were the laggards.

The Nasdaq Composite (RIXF) was up just 0.1% to 4,687, despite big gains in Apple, its heaviest-weighted stock. Apple's earnings surprised even the most bullish analysts as the tech giant reported an $18 billion profit in the latest quarter.

Also read: Apple's secret weapon isn't a new product

Quincy Krosby, market strategist at Prudential Financial, said investors are realizing the Fed is intent on beginning to normalize interest rates.

"The Fed is very careful with their language in the statement, and they are signalling to the markets that they want to start raising rates sometime this year," Krosby said.

While the reaction in the stock market was largely muted, Treasurys rallied after the announcement. The yield on 10-year Treasury notes, which moves inversely to prices, dropped 7 basis points to 1.75%.

Goldman Sachs and others expect the first hike in short-term interest rates by September. But Ellen Zentner, an economist at Morgan Stanley, said Tuesday that she doesn't expect a Fed hike until March 2016, partly because the downward pressure on inflation is stronger than expected.

Apple earnings: Apple shares jumped 7% after the company reported another record for its flagship iPhone, with 74.5 million phones sold in the fiscal first quarter. Profit rose 38% to a record high.

Also read: This is what Apple analysts are worried about

Yahoo, Boeing in focus: Shares of Boeing (BA) gained after the company's fourth-quarter earnings beat forecasts.

Yahoo Inc. (YHOO) jumped after the Internet search engine late Tuesday said it would spin off its Alibaba Group Holding Ltd. (BABA) stake into a separate publicly traded company.

U.S. Steel Corp. (X) jumped after the steel producer's earnings topped Wall Street estimates.

Abiomed Inc. (ABMD) surged 32% after the medical device maker posted earnings that blew out Wall Street estimates.

On the downside, Ethan Allen Interiors Inc. dropped sharply after releasing weaker-than-expected results from its holiday quarter.

Energy companies were selling off as oil prices fell more than 3%. Among S&P 500 components, Denbury Resources (DNR) and Cabot OIl & Gas Corp (COG) were down more than 7%.

Shake Shack Inc. (SHAK) raised the terms for its initial public offering and said it would offer 5.75 million shares to be priced at $17-$19 a share.

Overseas markets: Europe stocks were mixed, with Greece suffering from another selloff after Prime Minister Alexis Tsipras stressed he will push for debt relief from the country's international creditors.

The Nikkei 225 index rose to a fresh one-month high.

Crude-oil prices (CLH5) fell $1.7 to $44.52 a barrel, as another investment bank downgraded its forecast for the commodity. Barclays cut its forecasts for WTI crude to $42 a barrel for 2015 from $66 and $57 a barrel for 2016. For Brent crude, Barclays cut its forecast to $44 a barrel for 2015 from $72 and forecast $60 for 2015.

Gold prices (GCG5) settled lower at $1,284 an ounce.

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