Stocks slipped in Tuesday afternoon trading as investors digested a statement from the Federal Reserve.

The Dow Jones industrial average <.DJI> was down 14.08 points, or 0.12 percent, at 12,007.31. The Standard & Poor's 500 Index <.SPX> was down 4.76 points, or 0.38 percent, at 1,231.71. The Nasdaq Composite Index <.IXIC> was down 15.73 points, or 0.60 percent, at 2,596.53.

(Reporting By Caroline Valetkevitch; Editing by Jan Paschal)