Stocks close down as Fed holds fire

Traders work on the floor of the New

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Traders work on the floor of the New York Stock Exchange at the end of the trading day Tuesday in Manhattan. The Dow fell 32 points to close at 12,976.13 on Wednesday. (July 31, 2012) (Credit: Getty Images)

After wavering all day, U.S. markets ended the day with losses.

Stocks waffled between small gains and losses ahead of the Federal Reserve's policy statement at 2:15 p.m. The Fed said the economy is weakening, but it didn't promise any new action. Stocks turned downward after that.

At the close on Wall Street on Wednesday, the Dow Jones industrial average was down 32.55 points at...

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