NEW YORK May 1 U.S. stocks fell sharply on Wednesday as the latest economic data continued a trend of indicators pointing to anemic growth, while bellwether companies disappointed on revenue. The Federal Reserve's decision to keep its monetary stimulus in place was not enough to offset investors' anxiety about the data and earnings.
The Dow Jones industrial average dropped 138.85 points, or 0.94 percent, to end unofficially at 14,700.95. The Standard & Poor's 500 Index fell 14.88 points, or 0.93 percent, to finish unofficially at 1,582.71. The Nasdaq Composite Index slid 29.66 points, or 0.89 percent, to close unofficially at 3,299.13.