Stocks Turn Negative As Investors Await Fed

Stocks erased modest gains in early afternoon trade Wednesday, slipping into negative territory ahead of the conclusion of a Federal Reserve policy meeting. The S&P 500 was down 6.08 points, or 0.3%, at 2,090.21, while the Dow industrials lost 45.11 points, or 0.3%, to trade at 17,859.33. The Fed will release its policy statement at 2 p.m. Eastern. Fed Chairwoman Janet Yellen will hold a news conference at 2:30 p.m. Investors are on the lookout for clues to the timing of the central bank's first rate hike.