MANHATTAN (WKOW) -- Stocks slide after disappointing news from the Federal Reserve. The dow slipped more than 3/4% to 9,748.55. The Nasdaq dropped .7% to 2,131.42. The S&P 5oo lost 1% to close at 1,060.87
The Federal Reserve left interest rates at current historical lows near zero in its two-day meeting. The Fed pointed out signs of improvement in the economy, but said ongoing problems in unemployment could slow the recovery. The Fed said the housing sector, home sales and construction are coming off historic lows, but there are signs of improvement.
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