FOMC Sparks Selloff
The FOMC announcement sparks a sell off in stocks today. The FOMC announcement shows a 180 in policy from only 6 weeks ago when they raised rates for the first time in 9 years. The sell off in stocks led to another spike in volatility. The Fed indicates a slow down in the economy and that their policy of 4 rate hikes in 2016 may be on hold. A case where bad news may really be bad news for the stock market. The tech heavy Nasdaq leads the decline today with AAPL near 52 week lows.