Fed policy fails to stem Dow's biggest two-day sell-off

Washington

THE US Federal Reserve played a familiar tune, yet investors failed to dance.

A renewed vow of patience on interest rates and record earnings from the world's largest company couldn't prevent the biggest two-day sell-off in the Dow Jones Industrial Average in a year, as the impact of plunging oil and a stronger US dollar are showing signs of eroding profit at multinational companies.