Dow Drops 400 Points and Nasdaq Slides Ahead of Tech Earnings, Fed

Dow Tumbles 600, 2.2%, as Fed Says Pace of Recovery Has 'Moderated'
TheStreet
1/27/2021
© TheStreet
Dow Tumbles 600, 2.2%, as Fed Says Pace of Recovery Has 'Moderated'
Stocks finished lower Wednesday after the Federal Reserve kept rates near zero, maintained its bond-buying program at the current pace, and said it saw signs that an economic recovery "has moderated in recent months."
The Dow Jones Industrial Average ended down 633 points, or 2.05%, to 30,303, the S&P 500 slumped 2.57% and the Nasdaq dropped 2.61%. Equities had their worst day since October.
Stocks had been lower Wednesday ahead of the Fed's announcement as investors turned cautious with earnings from Tesla , Facebook and Apple scheduled for after the closing bell.

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