Fed paints weaker picture of growth and employment

Stocks Surge After Central Banks’ Action on Debt...
Market indexes gained more than 4 percent and the Dow closed up 490 points after the Federal Reserve and central banks took action on the European debt crisis.

Central Banks Take Joint Action to Ease Debt Crisis
The Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland said they had agreed to lower the cost of existing dollar swap lines.

Stocks tumble amid fears over Europe
Stocks tumbled after the U.S. government lowered its estimate of economic growth in the third quarter. Higher borrowing costs for Spain also renewed worries about Europe's debt crisis.

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