BUSINESS

U.S. Stocks Drop On Federal Reserve Statement

Traders work on the floor of the New York Stock Exchange, Wednesday, Jan. 30, 2013. The Federal Reserve says growth "paused"
Traders work on the floor of the New York Stock Exchange, Wednesday, Jan. 30, 2013. The Federal Reserve says growth "paused" in recent months and reaffirmed its commitment to boost a sluggish U.S. economy by keeping borrowing cheap for the foreseeable future. (AP Photo/Richard Drew)

NEW YORK, Jan 30 (Reuters) - U.S. stocks fell on Wednesday after the Federal Reserve said in its latest statement that economic growth had stalled but indicated the pullback was likely temporary.

Based on the latest available data, the Dow Jones industrial average was down 44.23 points, or 0.32 percent, at 13,910.19. The Standard & Poor's 500 Index was down 5.89 points, or 0.39 percent, at 1,501.95. The Nasdaq Composite Index was down 11.35 points, or 0.36 percent, at 3,142.31.

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