Stocks seesawed in volatile trade on Tuesday after the U.S. Federal Reserve offered no indication of more monetary stimulus even as it said economic growth was set to remain sluggish.

The Dow Jones industrial average dropped 83.44 points, or 0.77 percent, to 10,726.41. The Standard & Poor's 500 Index dropped 3.26 points, or 0.29 percent, to 1,116.20. The Nasdaq Composite Index gained 11.21 points, or 0.48 percent, to 2,368.90.

(Editing by Kenneth Barry)