NEW YORK (Reuters) - The major U.S. stock indexes initially pared losses and then extended their declines on Wednesday after the Federal Reserve announced a further reduction in its monthly bond purchases, as expected.
The Dow Jones industrial average <.DJI> fell 157.60 points or 0.99 percent, to 15,770.96. The S&P 500 <.SPX> lost 14.69 points or 0.82 percent, to 1,777.81. The Nasdaq Composite <.IXIC> dropped 34.43 points or 0.84 percent, to 4,063.533.
(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)
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