Stocks Slide After Post-FOMC Gains

by devteam September 23rd, 2009 | Share

Upon release of an upbeat statement 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 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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