Fed Created ‘Sell-the-News Event’: Pros

Following the Federal Reserve's announcement of further easing, the market provided insight for investors, the CNBC "Fast Money" pros said Wednesday.

"It was definitely a sell-the-news event," Stuart Frankel's Steve Grasso said, warning that Fed Chairman Ben Bernanke also faced diminished returns on his monetary policy.

"He's losing the bang for his buck here."

Sure enough, stocks popped following the news and pared those gains to end flat for the day.

Brian Kelly of Shelter Harbor Capital said the news helped move money into hard assets – silver and copper.

"That's what people put their money into,' he added.

Dan Nathan of RiskReversal.com noted, "The options market was not too focused" on the Fed's move.

Trader disclosure: On Dec. 12, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long AUO; Steve Grasso is long BA; Steve Grasso is long F; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long P; Steve Grasso is long PXD; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long WYNN; Steve Grasso is funds long MSFT; Steve Grasso is funds long SLB; Steve Grasso is funds long HPQ; Steve Grasso is funds long ZNGA; Steve Grasso is funds long DELL; Dan Nathan is long BAC JAN 9 X 7.5 1X2 PUT SPREAD; Dan Nathan is long WFC JAN 36 CALL SPREAD; Dan Nathan is long RIMM DEC 14TH/DEC22 12 PUT SPREAD; Dan Nathan is long MSFT JAN 26/24 PUT SPREAD; Dan Nathan is long JOY DEC/JAN 62.5 CALL SPREAD; Dan Nathan is long SPY DEC 14 PUTS; Dan Nathan is long QQQ DEC 64 PUTS; Brian Kelly is long GLD; Brian Kelly is long SLV; Brian Kelly is long XLB; Brian Kelly is long TIP; Brian Kelly is long EWI; Brian Kelly is long EWP; Brian Kelly is short XHB; Brian Kelly is short XLF; Karen Finerman is long AAPL PLTS; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long JPM CALLS; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is long FNL; Karen Finerman is long M; Karen Finerman is short SPY.