Wall Street turns negative after Fed statement
Stocks turned negative on Tuesday in extremely volatile trading after the statement from the Federal Reserve that the economy had weakened.
The slide took the S&P 500 down about 19 percent from its 2011 closing high set on April 29, bringing the benchmark index close to the 20 percent drop from a peak that Wall Street defines as bear market territory.
The Dow Jones industrial average dropped 165.48 points, or 1.53 percent, to 10,644.37. The Standard & Poor's 500 Index lost 12.29 points, or 1.10 percent, to 1,107.17. The Nasdaq Composite Index fell 15.75 points, or 0.67 percent, to 2,341.94.
(Reporting by Chuck Mikolajczak; Editing by Jan Paschal)
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