Immediate after Federal Funds Rate :
(Reuters) - Stocks fell on Wednesday, with the losses accelerating even after the Federal Reserve said it would hold steady with its monetary policy.
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The central bank gave no explicit indication that it was close to pulling back on its program to buy $85 billion in bonds per month, a policy that has been a key to the market's rally this year.
Investors have speculated the Fed might start drawing down soon, contributing to a spate of volatility, though equities advanced strongly on both Monday and Tuesday ahead of the statement.