Wall Street closes lower on Fed

US stocks fall sharply as Fed delivers stimulus cut in line with expectations.

United States stocks closed sharply lower after the Federal Reserve announced another reduction in its monthly bond purchases, as expected and offered a rough timetable for when the central bank could raise benchmark interest rates.

At the closing bell, the Dow Jones Industrial Average turned lower, lost 114.02 points, or 0.7%, to 16,222.17 points

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