Fed Disappoints and Stocks Sink Further

Stocks, which were already reeling from the continued uncedrtainty over the European debt crisis, were hoping for good news to come out of the Fed meeting today.  Fed chief Ben Benanke has always kept the possbiiity open for a new round of Quantitative Easing.  But when the Fed ended its meeting there was no mention of QE3.  Although the word on the street is that there is just one dissenter, all they said was that, although our ecdonomy continues to move forward, Europe may be poised for a downturn.  That is not what treaders wanted to here.  The was off by 66 points.