The Federal Reserve announced that it would sell $400 billion of short term debt and purchase longer term bonds with the funds. In addition, the Federal Reserve stated that there were significant downside risks to the economic outlook. The warning sent stocks lower with the S & P 500 closing down 3% for the trading day.
To read a related Reuters article, please click here:
http://www.reuters.com/article/2011/09/21/us-usa-fed-idUSTRE78J3HB20110921
James Sutliff