Dow Off 23 on Fed Rate News

(NEWSER) - Stocks dipped today on worse-than-expected information about consumer sentiment, the Wall Street Journal reports. A Reuters index dropped 3 points instead of the anticipated 2-point rise. A downward spiral has been evident since the Fed announced it would not raise interest rates Wednesday. “A day like today has been long overdue,” said an observer. The Dow was off 76.79 and closed 9,321.40. The S&P sank 8.64 to 1,004.09, and the Nasdaq lost 23.83 to end at 1,985.52. More»

(NEWSER) - Markets fell today after the Federal Reserve warned of a more prolonged recession than it previously expected, the Wall Street Journal reports. Financials and tech contributed to the plunge, which even a 6-month high in oil prices could not stop. “We’re just dealing with a stock market that was defying gravity,” a broker said. The Dow was off 52.81 to 8,422.04. The S&P fell 4.66 to 903.47. The Nasdaq lost 6.70, ending at 1,727.84. More»

All indexes fall as traders bite nails over tomorrow's Federal Reserve meeting

(NEWSER) - Wall Street bit its collective nails today, with fear mounting that the Fed meeting tomorrow will result in a rate cut of only 25 basis points rather than the 50 traders crave. The Dow fell 39.10 to 13,403.42, the S&P 500 dipped 7.60 to 1,476.65, and underperforming tech hauled the Nasdaq down 20.52 to 2,581.66. More»

Analyst chalks it up to psychology

(NEWSER) - Stocks had their best day in more than a week today, with the Dow jumping a whopping 322 points, while the Nasdaq and S&P gained 101 and 39 points respectively. Investors are betting that the Federal Reserve will heap more stimulus on the economy this week, Bloomberg reports, while a market analyst tells MarketWatch that the rally should be chalked up to “a shift in investor psychology.” More»

Dow sees triple-digit rise

(NEWSER) - Is the panic over on Wall Street? The Dow shot up around 131 points, and the S&P and Nasdaq were up 13.5 and 26.2 as of 9:39am EST. Part of the gain came from Google’s blockbuster acquisition of Motorola , which sent the latter’s stock up 60%, according to the Wall Street Journal . Traders were also watching two other major deals—Time Warner is reportedly close to an agreement to buy Insight Communications, and Bank of America sold its credit card portfolio to Toronto-Dominion Bank. More»