Not too scary. No XXX down!
By: JeeYeon Park
CNBC.com Writer
Stocks pared their losses in the final hour of trading Thursday to close off
their lows, with the S&P 500 clawing back above the widely-watched 1,500
level.
Stocks were sharply lower for most of the session, pressured by disappointing economic reports and amid worries the Federal Reserve might scale back its bond-buying program.
"We overreacted to the Fed news in the last two days, though a healthy correction between 2 and 5 percent would be what investors would want to get back into the market," said Art Hogan, managing director at Lazard Capital Markets.
The Dow Jones Industrial Average slid 46.92 points, or 0.34 percent, to close at 13,880.62, after being down almost triple-digits earlier in the session
The S&P 500 slid 9.53 points, or 0.63 percent, to close at 1,502.42. The Nasdaq dropped 32.92 points, or 1.04 percent, to end at 3,131.49.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, held above 15, trading at its highest level this year.
Stocks were sharply lower for most of the session, pressured by disappointing economic reports and amid worries the Federal Reserve might scale back its bond-buying program.
"We overreacted to the Fed news in the last two days, though a healthy correction between 2 and 5 percent would be what investors would want to get back into the market," said Art Hogan, managing director at Lazard Capital Markets.
The Dow Jones Industrial Average slid 46.92 points, or 0.34 percent, to close at 13,880.62, after being down almost triple-digits earlier in the session
The S&P 500 slid 9.53 points, or 0.63 percent, to close at 1,502.42. The Nasdaq dropped 32.92 points, or 1.04 percent, to end at 3,131.49.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, held above 15, trading at its highest level this year.
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