NEW YORK (TheStreet) — Major U.S. stock markets turned sharply lower on Wednesday despite the Federal Reserve saying it will maintain its current stimulus program of buying $85 billion per month to help sustain the country’s economic recovery.
The Fed’s Federal Open Market Committee voted to maintain its current policy by a vote of 10 in favor and 2 against but outlined criteria which will determine when the bank begins to reduce the size and scope of its bond buying program. Continue reading “Stocks Tumble as Fed Outlines Criteria for Reducing Stimulus”