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NEW YORK, Jan 29 (Reuters) - The major U.S. stock indexes initially pared losses and then extended their declines on Wednesday after the Federal Reserve announced a further reduction in its monthly bond purchases, as expected.
The Dow Jones industrial average fell 157.60 points or 0.99 percent, to 15,770.96. The S&P 500 lost 14.69 points or 0.82 percent, to 1,777.81. The Nasdaq Composite dropped 34.43 points or 0.84 percent, to 4,063.533.