Econintersect offers a market wrap in Gary’s absence.
Here is the summary after the market closed from Investing.com:
U.S. stocks fell after a volatile session on Tuesday after the Bank of Japan abruptly left monetary policy unchanged after months of implementing massive easing measures that have weakened the yen and sent Asian stocks rising.
Uncertainty over whether the Federal Reserve may coordinate with its Japanese counterpart and scale back stimulus measures in the U.S. sparked a wild and volatile trading session due to murkiness over the fate of borrowing costs in the world’s largest economy.
Monetary stimulus tools such as the Fed’s USD85 billion monthly bond-buying program flood the economy with liquidity to spur recovery and keep borrowing costs low, a combination that sends stock prices rising as a side effect.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.76%, the S&P 500 index ended down 1.02%, while the Nasdaq Composite index fell 1.06%.
Here are market summary tables after the New York market close from Investing.com:
Click on any table for live streaming data from Investing.com.
