Still a Dangerous Market
If there were lingering questions about underlying market health headed into Tuesday, those questions were answered by the close, as major averages sold off late and finished near session lows. It's still a dangerous market.
The Fed policy statement was released at 2:15 p.m. EST. It was a case of no news being bad news for the market. The Nasdaq led the way, falling 1.3% on higher volume. I was hoping something in the statement would fuel some selling in the U.S. dollar, but I knew that chances were slim. The Fed is in a holding pattern for now -- not willing to expand its balance sheet yet -- and that's understandable in light of recent economic data that have been more good than bad....481 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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