Markets waver ahead of Fed decision

Expectations were high the Fed will announce a limited round of bond purchases. But how much of a boost that would give markets, if any, remains to be seen. When investors anticipate a beneficial policy decision, they often make adjustments ahead of the actual announcement.

In early afternoon trading, the Dow Jones industrial average lost 22.93 points, 0.2 percent to 11,165.79. The Standard & Poor's 500 index fell 0.28 percent, 3.29, to 1,190.28. The Nasdaq composite index shed 0.34 percent, 8.53, to 2,524.99.

The benchmark 10-year Treasury note gained 16/32 to yield 2.536 percent.

The euro rose to $1.4044 from Tuesday's $1.4028. Against the yen, the dollar rose to 81.24 yen from Tuesday's 80.69 yen.

In Japan, the Nikkei 225 index gained 0.06 percent, 5.26, to 9,159.98.

In Britain, the FTSE 100 index lost 0.15 percent, 8.46, to 5,748.97.

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