The DJIA gave back more than 200 points, following big post-earnings drops from AAPL and BA
It was
a whipsaw day on Wall Street, with the
Dow Jones Industrial Average (DJIA) ultimately resolving lower. Unlike recent sessions which had
markets tracking the price of oil, stocks and crude futures ended on opposite sides of breakeven. Dow components
Apple Inc. (NASDAQ:AAPL) and Boeing Co (NYSE:BA) suffered massive losses in the wake of their earnings reports. Also weighing on investor sentiment was an uninspiring outlook from the Fed, which said "economic growth slowed" since the December meeting, and it is "closely monitoring global economic and financial developments."
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 15,944.46) traded in a nearly 357-point range today, before settling down 222.8 points, or 1.4%, and back below 16,000. Twenty-three of the Dow's 30 components closed lower, led by BA's 8.9% plunge. Verizon Communications Inc. (NYSE:VZ) paced the seven advancers with its 1.6% pop.
The S&P 500 Index (SPX - 1,882.95), meanwhile, shed 20.7 points, or 1.1%, to finish south of 1,900. The Nasdaq Composite (COMP - 4,468.17) fared the worst of its peers, closing at a 99.5-point, or 2.2%, loss.
The CBOE Volatility Index (VIX - 23.11) climbed 0.6 point, or 2.7%, and back above its 10-day moving average.

5 Items on Our Radar Today:
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Goldman Sachs took the hard line with Expedia Inc (NASDAQ:EXPE) and two of its sector peers.
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Pre-earnings option bulls may be excited about Amazon.com, Inc.'s (NASDAQ:AMZN) inaugural Super Bowl appearance, but Wall Street? Not so much.

Data courtesy of Trade-Alert
Commodities:
Crude climbed higher today, as a drop in domestic output overshadowed a jump in weekly inventories, and amid reports Russia could meet with the Organization of the Petroleum Exporting Countries (OPEC) to discuss cutting output. By the close, crude for March delivery was up 85 cents, or 2.7%, at $32.30 per barrel -- its loftiest settlement since Jan. 8.
April-dated gold closed down $4.30, or 0.4%, at $1,116.30 per ounce ahead of the release of the FOMC's policy statement. However, futures moved north after the Fed struck a dovish tone, hitting its highest levels since early November.