NEW YORK (AP) -- Stocks are falling after the Federal Reserve gave a slightly more optimistic outlook for the U.S. economy, which investors took as a hint that the bank was nearer to a decision to reduce its economic stimulus program.
The Dow Jones industrial average fell as much as 87 points shortly after the Fed's statement came out at 2 p.m. Eastern Daylight Time. It was down 33 points, or 0.2 percent, at 15,284 as of 2:15 p.m.
The Standard & Poor's 500 index was down three points, 0.2 percent, to 1,649.
The yield on the 10-year Treasury note rose to 2.26 percent from 2.21 percent earlier. That was a sign investors were selling the bonds.
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