Announcement from Federal Reserve Impacts Stocks

The stock market is down just moments after an announcement from the Federal Reserve. The Federal Reserve announced this afternoon it will buy long-term Treasury's and sell short-term securities to help the economy regain momentum. Within 20 minutes of the announcement major stock indexes fluctuated. The central bank met for two days to discuss the economy and how to strengthen it. A statement from the Fed said the economy has “significant downside risks” and one of those risks is volatility in global markets.