Dow Slips Back Below Breakeven as Investors Eye Fed Meeting

Stabilizing Asian markets helped ease investors' concerns, however

Digital Content Manager

Sep 21, 2021 at 4:31 PM

Volatility tormented Wall Street on Tuesday, with the Dow slipping back into the red in the last hour of trading to settle below breakeven, despite adding more than 300 points at its session highs. The S&P 500 ultimately turned in a loss as well, while the Nasdaq scored a modest win, as investors eyed the Federal Reserve's two-day meeting, which kicked off today and could hint at the central bank's plans to taper bond purchases. Stabilizing Asian markets helped ease investor concern, though real estate developer China Evergrande Group is still expected to default on $83 million worth of interest on Thursday, when payment is due.

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The Dow Jones Average (DJI - 33,919.84) fell 50.6 points, or 0.2% for the day. American Express (AXP) paced the gainers with a 1.7% pop, while Walt Disney (DIS) fell to the bottom, shedding 4.2%.

The S&P 500 Index (SPX - 4,354.19) dropped 3.5 points, or 0.08% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,746.40) added 32.5 points, or 0.2% for the day.

Lastly, the Cboe Volatility Index (VIX - 24.36) fell 1.4 points, or 5.3% for the day.

index summary sept 21

nyse and nasdaq sept 21

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uvol sept 21

Gold Prices Nab Another Win as U.S. Dollar Weakens

Oil prices settled higher on Tuesday, bouncing back from Monday's broad-market selloff as investors grew confident the Energy Information Administration (EIA) will announce a seventh-straight weekly decline in U.S. crude supplies tomorrow. In turn, October-dated crude added 27 cents, or 0.4%, to settle at $70.56 a barrel.

Gold prices were higher as well, nabbing their second-straight win as the U.S. dollar lost some of its strength. Lingering concerns over China Evergrande Group also boosted the metal. As a result, December-dated gold rose $14.40, or 0.8%, to settle at $1,778.20 an ounce.

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