Stocks plunged after the Federal Reserve made it official – no change in rates and Operation Twist is a go. The Fed said it will shift $400 billion from short-term Treasuries into long-term Treasuries in an effort to boost lending and spur the economy. Aside from the Fed, investors remained on edge over the developing situation in debt-stricken Greece. The tech sector slipped also, while Oracle and Hewlett-Packard advanced after upbeat earnings and on media reports about possible shift in the board. Adobe added 1% after the co. reported a drop in profit, but issued a better-than-expected forecast. Implied volatility surged above the 30 level on massive trading.
Thursday, September 22, 2011
Slipped on Fed news
Stocks plunged after the Federal Reserve made it official – no change in rates and Operation Twist is a go. The Fed said it will shift $400 billion from short-term Treasuries into long-term Treasuries in an effort to boost lending and spur the economy. Aside from the Fed, investors remained on edge over the developing situation in debt-stricken Greece. The tech sector slipped also, while Oracle and Hewlett-Packard advanced after upbeat earnings and on media reports about possible shift in the board. Adobe added 1% after the co. reported a drop in profit, but issued a better-than-expected forecast. Implied volatility surged above the 30 level on massive trading.
