Closing Bell: Anheuser-SABMiller Deal on Rocks; Fed Leaves Rates

Easing worries over the economy helped to pull the Dow Jones Industrial Average out of the red on Wednesday. The Federal Reserve trumpeted solid U.S. economic improvement in a statement out this afternoon, a relief to those worried about the recovery. The Fed opted to leave rates unchanged following the conclusion of its two-day July meeting. The vote to hold rates steady was nearly unanimous, except for a sole dissenter. The Fed touted improvements to the economy, a signal many interpreted as openness to a possible September hike. U.S. Stee l (X) - Get Report roared higher after narrowing its quarterly net loss. The producer said it expects to continue to benefit from a pickup in prices. Anheuser-Busch (BUD) - Get Report fell on worries its hoped-for acquisition of SABMiller had hit a snag. Reports indicate SABMiller has halted integration efforts. The brewer has yet to accept a sweetened offer. TheStreet's Keris Lahiff has details from Wall Street.