The Federal Open Market Committee concluded its two-day meeting and kept its fed funds target at a range of 0.00-0.25%. In terms of economic conditions, the Fed noted that economic activity has picked up and that activity in the housing sector has increased, which is a slight improvement relative to the previous Fed statement in mid-August.
Details from Bloomberg...
The Dow Jones Industrial Average fell 81 points (0.8%) to close at 9,749, the S&P 500 Index lost 11 points (1.0%) to 1,061, and the Nasdaq Composite declined 15 points (0.7%) to 2,131. Crude oil fell $3.41 to $68.35 per barrel, and the Bloomberg gold spot price decreased $5.66 to $1,008.75 per ounce.
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