A lackluster read on retail sales in November and disappointing comments from German Chancellor Angela Merkel also put a damper on sentiment. The Fed decided to leave rates unchanged amid signs suggesting that "the economy has been expanding moderately, notwithstanding some apparent slowing in global growth." Voting against the action was Chicago Federal Reserve President Charles Evans, who supported additional policy accommodation. But the central bank warned that the unemployment rate remains elevated despite indications of some improvement in the labor market. "The FOMC statement offered little," says CRT Capital analyst Ian Lyngen. The Dow Jones Industrial Average finished down 66 points, or 0.6%, at 11,955. The blue-chip index was trading up some 120 points at the morning's highs. The S&P 500 was lower by 11 points, or 0.9%, at 1226, while the Nasdaq Composite fell 33 points, or 1.3%, at 2579.
NEW YORK (TheStreet) -- Stocks recoiled by the end of the trading session Tuesday after Federal Reserve policymakers stood pat, giving no indication that another round of quantitative easing is on the way anytime soon.
2012 Stock Predictions and Outlook
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