CNBC's Margaret Brennan:

Stocks fizzled on Wednesday when the market closing down despite an early Fed-fueled rally of Tuesday’s news that banks and bond dealers can exchange mortgage backed securities for treasury bonds. The Dow lost 46 points and the NASDAQ down more than 11 in part due to Dollar weakness.

The US Dollar hit a new low against the Euro, and we saw a new high in oil prices of USD 109.92/bbl. Shares of the two largest energy companies, Exxon and Chevron traded down. General Electric says earnings and revenue should rise 10% despite of slowdown in spending and tightening credit conditions. Shares of GE, the parent company of this network, closed up more than 1.5% on the day.