Wall Street bounces off session lows as stocks churn ahead of Fed statement

REUTERS/Brendan McDermidNEW YORK, Jan 25 (Reuters) - U.S. stocks gyrated in afternoon trading to close lower with interest rate sensitive tech stocks weighing most heavily as uncertainties surrounding an increasingly hawkish Federal Reserve and rising geopolitical tensions contributed to the market's churn.In a pattern similar to Monday, U.S. stocks whipsawed between steep losses and modest gains. Declining issues outnumbered advancing ones on the NYSE by a 1.34-to-1 ratio; on Nasdaq, a 1.53-to-1 ratio favored decliners.The S&P 500 posted seven new 52-week highs and four new lows; the Nasdaq Composite recorded 19 new highs and 134 new lows.Volume on U.S. exchanges was 13.13 billion shares, compared with the 11.23 billion average over the last 20 trading days.Our Standards: The Thomson Reuters Trust Principles.Subscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day.