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Wall Street slumps into close after Fed


    NEW YORK (Reuters) - The S&P 500 stock index fell more than 2 percent on Wednesday after the Federal Reserve said the economic outlook remains grim, even as it acted to boost economic demand.

    The Dow Jones industrial average dropped 212.14 points, or 1.86 percent, to 11,196.52. The Standard & Poor's 500 Index dropped 25.98 points, or 2.16 percent, to 1,176.11. The Nasdaq Composite Index dropped 29.37 points, or 1.13 percent, to 2,560.87.

    (Editing by Kenneth Barry)