Fed Day Hangover: Dow Loses 200 Points

A cloud of economic gloom hovered over Wall Street on Wednesday as the Dow sank about 200 points in response to new signs of trouble in Asia and the Fed's newly-downgraded economic forecast. Today’s Markets As of 11:40 a.m. ET, the Dow Jones Industrial Average fell 221.82 points, or 2.08%, to 10422.73, the Standard & Poor's 500 dropped 27.52 points, or 2.45%, to 1093.54 and the Nasdaq Composite sank 62.63 points, or 2.75%, to 2214.56. The FOX 50 slid 16.83 points, or 2.08%, to 791.86. Economically-sensitive stocks like U.S. Steel X and commodities such as copper led the way down in the early wave of selling, which left the markets solidly in the red on the week. After initially responding well to the Federal Reserve’s latest efforts to breathe life into the recovery, the markets appeared to be rethinking that news and focusing on the central bank’s weaker economic outlook. To read the rest, head over to FOX Business.