US equity close: Not a pretty picture but off the lows

US equities touched a two-month low early on but recovered from the worst levels of the day to finish above the lows from Friday and Monday. That’s little comfort ahead of a pivotal Fed decision and with bonds slumping.

  • S&P 500 -44 points, or 1.1%, to 3855
  • Nasdaq -0.9%
  • Russell 2000 -1.4%
  • DJIA -1.0%
  • Toronto TSX Comp -0.9%

The good news is that the best days of the year to own stocks are Fed decision days. Psychologically, people fear the worst and if there’s any silver of good news, it leads to some relief. The sun will come up on Thursday, no matter what Powell says tomorrow.

SPX daily

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