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Wall Street holds flat after Fed statement


    NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday following a Federal Reserve policy statement in which the central bank cut the growth forecast for this year but expressed confidence the economic recovery was on track.

    The Dow Jones industrial average .DJI fell 27.42 points, or 0.16 percent, to 16,781.07, the S&P 500 .SPX lost 0.17 points, or 0.01 percent, to 1,941.82 and the Nasdaq Composite .IXIC dropped 9.53 points, or 0.22 percent, to 4,327.70.

    (Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)