U.S. Stocks Fall After Fed Decision

The U.S. stock market moved decidedly lower after the Federal Reserve decided to end the last batch of its bond-buying program and kept the Fed funds rate at zero. In the accompanying statement, for the first time, the Fed explicitly said it could raise interest rates sooner than markets expect if the economy grows faster than the bank projects. The S&P 500 which was flat up until the announcement, fell 13 points, or 0.6%, to 1,973.00. The Dow Jones Industrial Average dropped 80 points, or 0.5% to 16,926.66. The Nasdaq Composite fell 40 points, or 0.9%, at 4,522.72.