The Federal Reserve's policy statement Tuesday did little to improve the visibility of the awaited economic recovery, with dealers predicting flat trading in stocks in the weeks ahead pending the late September, early October pre-announcement season. "We're still waiting for the economy to recover. The Fed left the door open for another 25 basis points at the October 2nd meeting, but the market right now wants to see signs of an economic bottom," said Michael Lyons, senior dealer at Morgan Stanley Dean Witter. The market sold off after the mid-afternoon announcement, turning modest losses into steep ones. The Dow Industrials ended down 145.93 at 10174.14 while the Nasdaq Composite fell 50.05 to 1831.30, though dealers downplayed the significance of the declines pointing to the session's unusually light volumes. The S&P 500 slipped 14.15 to 1,157.26.