The stock market spent much of Wednesday recovering from the coronavirus fears from earlier in the week. Stocks mainly pared their losses in early trading but began to fall after large company fourth quarter earnings misses and the Federal Reserve's first monetary policy decision of 2020.

Here's how the stock market closed on Wednesday:

S&P 500 Index (SPY  ): -0.09% or -2.84 points to 3,273.40

Dow Jones Industrial Average (DIA  ): +0.04% or +11.60 points to 28,734.45

Nasdaq Composite Index (QQQ  ): +0.06% or +5.48 points to 9,275.16

In Major Stock News, Penn National Gaming's (PENN  ) stock soared over 10% after the casino company announced that it is buying a 36% stake in the media company Barstool Sports. General Electric (GE  ) traded the stock's best day since October, with the company reporting better than expected fourth quarter results. L Brands (LB  ) increased over 13% following the announcement that CEO Les Wexner will be leaving the company. AT&T (T  ) fell nearly 4% after the telecom posted a fourth quarter revenue miss. Facebook (FB  ) dropped over 6% after the company reported rising costs and expenses and a narrowing operating margin during its earnings call. Tesla's (TSLA  ) stock skyrocketed over 14% to a record close after reporting better than expect earnings for the fourth quarter.

In U.S. Economic News, the U.S. Treasury yields dropped toward session lows after the Federal Reserve's monetary policy decision left interest rates unchanged. The U.S. 10-year declined more than 4 basis points to below 1.6%. In addition, U.S. advanced goods trade deficit widened in December, according to the Commerce Department. The increase was to $68.3 billion from November's report of $63 billion.

In Stock Sector News, sectors remain mixed as the market attempts to recover from initial coronavirus fears and fourth quarter earnings misses. The few that saw positive performance gains include Industrials +0.55%, Materials +0.36%, Utilities +0.30% and Information Technology +0.21%. The rest that posted negative performance include Energy -1.07%, Real Estate -0.63%, Consumer Staples -0.52%, Communication Services -0.43%, Health Care -0.27%, Financials -0.16% and Consumer Discretionary -0.06%.

Lastly, in Commodity and Currency News, crude barrel prices took another deep dive Wednesday as swelling U.S. crude inventories continue to weigh on prices. West Texas Intermediate (USO  ) dropped -1.65% and Brent Crude (BNO  ) declined over -0.60%. Gold (GLD  ) had a modest increase in price Wednesday, with the metal's share price gaining over +0.60%. Finally, the U.S. Dollar maintained its ongoing gains into the midweek, with the DXY Index climbing over +0.10%.