Wall Street edges down in volatile post-Fed trade

by Blogburger on June 21, 2012

Traders work on the floor of New York Stock Exchange as a news conference by U.S. Federal Reserve Chairman Bernanke is displayed on a screenNEW YORK (Reuters) – Stocks edged lower on Wednesday after the Federal Reserve acted to aid the fragile economy with stimulus measures that were in line with market expectations but went no further. Stocks rallied in recent days in the hope that the U.S. central bank would extend Operation Twist, a bond-buying program designed to lower long-term rates and stimulate growth. However, investor hopes of additional Fed action went unfulfilled. In addition, the Fed slashed its economic projections for this year and cut forecasts for the next two years as well. …



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