September 23, 2009 – 12:31 pm
Upon release of an upbeat communiqué from the Federal Reserve’s Open Market Committee, equity indexes jumped up to 11-month highs and the dollar weakened, but an hour later the dollar recovered and sent stocks plummeting.
The S&P 500 hit an intra-day high of 1,079.89 but by the close it had dived nearly 20 points from that peak to 1,1060. That puts it down a full percentage point for the day ― making this the worst day for the benchmark index since Sept. 1. Similar moves brought the Nasdaq down 0.69% to 2,131, while the Dow closed 0.83% below par at 9,748. Meanwhile, crude oil futures dropped below $68 a barrel, the dollar slipped, and the 10-year Treasury yield fell 10 basis points to 3.41%....(
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