Dow Gives Up Gains, Down Wednesday 56 to 7,339March 18th, 2009 by Rachel Pritchett
NEW YORK (AP) — Stocks are giving back some of their recent gains as investors await details from the Federal Reserve’s interest rate meeting.
The Fed is expected to leave rates near zero following its two-day meeting, but the market is anxious to see how the central bank assesses the economy in its statement accompanying the rate decision. Investors also want to know if the Fed has any further moves planned to help boost the economy.
In midday trading, the Dow Jones industrial average is down 92 points to 7,303. The Standard & Poor’s 500 index is down 7 to 771, while the Nasdaq composite index is down 5 to 1,456.