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NEW YORK, July 30 (Reuters) - The S&P 500 stock index briefly turned positive and the Dow industrials pared losses after the Federal Reserve cut its monthly bond-buying program by another $10 billion and upgraded its assessment of the U.S. economy.
The Dow Jones industrial average fell 40.23 points or 0.24 percent, to 16,871.88, the S&P 500 lost 0.48 points or 0.02 percent, to 1,969.47 and the Nasdaq Composite added 17.48 points or 0.39 percent, to 4,460.18. (Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)