NEW YORK (Reuters) - U.S. stocks initially turned positive then fell in volatile trade on Wednesday after the Federal Reserve said it will buy $600 billion in government bonds by mid-2011 in hopes of boosting the ailing economy.
The Dow Jones industrial average <.DJI> dropped 68.49 points, or 0.61 percent, to 11,120.23. The Standard & Poor's 500 <.SPX> fell 7.50 points, or 0.63 percent, to 1,186.07. The Nasdaq Composite <.IXIC> lost 17.69 points, or 0.70 percent, to 2,515.83.
Analysts said an injection of around $500 billion had already been priced into equities and other markets.
(Editing by Jeffrey Benkoe)
