"Unfortunately what the Fed was able to do yesterday was confirm our fears that we're in an economic soft patch, and that they're going to continue with monetary policy that we had in the past," said Art Hogan, chief market strategist at Jefferies & Co.
Bringing it back into the loss column for the year, the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 10,379, -265.42, -2.49%) declined 265.42 points, or 2.5%, to 10,378.83.
Alcoa Inc. /quotes/comstock/13*!aa/quotes/nls/aa (AA 10.52, -0.14, -1.31%) led the blue-chip decline that extended to all 30 of the Dow's components, with shares of the aluminum manufacturer down 6.1%.
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