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Wall Street erases gains late, turns negative



    NEW YORK (Reuters) - Wall Street erased gains, with all three major indexes turning negative in late afternoon trading on Wednesday as investors booked profits on recent gains before a policy announcement from the Federal Reserve.

    The Dow Jones industrial average dropped 2.82 points, or 0.02 percent, to 13,320.54. The Standard & Poor's 500 Index fell 0.34 point, or 0.02 percent, to 1,433.22. The Nasdaq Composite Index shed 4.66 points, or 0.15 percent, to 3,099.86.

    (Reporting By Wanfeng Zhou; Editing by Kenneth Barry)