Weak open for stocks as Fed wraps up 2-day meeting

Huge tornado hits Oklahoma City suburb, kills 37

A monstrous tornado at least a half-mile wide roared through the Oklahoma City suburbs Monday, flattening entire neighborhoods with winds up to 200 mph, setting buildings on fire and landing a direct blow on an elementary school. At least 37 people were reported killed.

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June 20, 2012

Weak open for stocks as Fed wraps up 2-day meeting

From The Associated Press The Joplin Globe Wed Jun 20, 2012, 09:33 AM CDT

NEW YORK — Stocks are edging lower shortly after the opening bell as the Federal Reserve wraps up a two-day meeting.

Investors are hoping that the Fed will either keep buying long-term bonds to keep rates low, or at least signal that it’s ready to act if the economy sputters. The Fed will release a statement at 12:30 p.m. Eastern time Wednesday.

A few minutes after trading opened, the Dow Jones industrial average fell 22 points to 12,815. The Standard & Poor’s 500 index lost three points to 1,354 and the Nasdaq composite index dropped five points at 2,924.

Procter & Gamble fell 4 percent after the consumer products maker cut its fourth-quarter earnings and revenue forecasts.

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