After spending much of the day around breakeven, the Dow Jones Industrial Average (DJI) tumbled on the Federal Reserve's decision to end its monthly bond-buying program -- despite the move being widely expected. Following a brief period of volatility, however, the blue-chip index partially recovered to end with a modest loss -- but still finished below the critical 17,000 mark. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) suffered their own minor setbacks. It was an interesting day for social media names, too, as Facebook Inc (NASDAQ:FB) got hammered by a round of bearish brokerage notes in the wake of its third-quarter earnings report, while sector peer Twitter Inc (NYSE:TWTR) continued to spiral lower.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 16,974.31) was up by as many as 60 points, but ended 31.4 points, or 0.2%, lower -- and back below 17,000 -- following the aforementioned policy update from the Fed. Fourteen of the Dow's 30 components ended in the green, led by Pfizer Inc. (NYSE:PFE), which advanced 1.4%. The other 16 blue-chip stocks finished below breakeven, paced by a 1.7% loss at DuPont (NYSE:DD).
The S&P 500 Index (SPX - 1,982.30) gave back 2.8 points, or 0.1%, while the Nasdaq Composite (COMP - 4,549.23) lost 15.1 points, or 0.3%.
The CBOE Volatility Index (VIX - 15.15) picked up 0.8 point, or 5.3%, to close back above 15.
5 Items on Our Radar Today:
For a look at today's options movers and commodities activity, head to page 2.
The Case for Big Moves in IWM and QQQ
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