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News Summary: Dow falls after Fed action

The Associated Press

FED GLUM: Stocks fell slightly after the Federal Reserve cut its economic outlook for the year.

OPERATION TWIST: The Federal Reserve's "Operation Twist" will continue. That's a program designed to keep long-term interest rates low. Investors had been expecting this, so when it happened, stocks bounced around some but they ended the day down slightly, just as they had been before the announcement.

WHAT'S NEXT: The Labor Department releases weekly jobless claims on Thursday morning, and the National Association of Realtors releases existing home sales figures for May. On Friday, the leaders of France, Germany, and Spain meet to discuss Europe's debt crisis.