Stocks fell on Wednesday, as financial shares sold off following their recent run-up and as the Federal Reserve offered a more pessimistic view on the economy's prospects.

* The Fed cut its 2009 forecast for gross domestic product and raised its outlook for unemployment, tempering recent optimism that the economy might be turning the corner.

* Based on the latest available data, the Dow Jones industrial average <.DJI> ended unofficially down 53.21 points, or 0.63 percent, at 8,421.64. The Standard & Poor's 500 Index <.SPX> ended unofficially down 4.71 points, or 0.52 percent, at 903.42. The Nasdaq Composite Index <.IXIC> shed 6.70 points, or 0.39 percent, to end unofficially at 1,727.84.

(Reporting by Ellis Mnyandu; Editing by Leslie Adler)