The relief rally after the FOMC meeting yesterday lost it’s sheen today with the NASDAQ index the hardest hit. Yesterday the NASDAQ rose 327 points today the index fell -385 points giving up all that’s gains. The S&P index and Dow industrial average also fell with the Dow marginally lower as flow of funds went more into the cyclical/defensive shares.
The final numbers are showing:
- NASDAQ index felt -385.16 points or -2.47% at 15180.42
- S&P index fell -41.18 points or -0.87% 4668.66
- Dow industrial average fell 29.8 points or -0.08% at 35897.65
- Russell index felt -42.75 points or -1.95% at 2152.45
The NASDAQ index traded as low as 15119.49. That did take the price back below its 100 day moving average for the third consecutive day but some late modest buying did push the price back above that moving average at 15160.89.
