Posted By RichC on August 9, 2011
The Dow Jones Industrial Average recently rose 4 points, or 0.04%, to 10813 points. The index, which gained as much as 243 points at its morning high, saw its rally fade ahead of the Fed decision and then turned negative after the statement was released. It briefly recaptured some of the gains before falling sharply lower and then rising again. At one point the Dow fell as much as 206 points.
The Fed signaled it plans to keep its benchmark short-term interest rate close to zero for at least another two years as it sharply downgraded its view of the U.S. economy.