Ahead of the Bell: Dow futures are trading up 141 points and S&P futures are trading up 18.40 points setting up a second straight day of gains after ECB Governing Council member, Ewald Nowotny, said there is a possibility of an interest rate cut as well as several other officials indicating easing or stimulus measures
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Markets closed lower today, continuing yesterday’s decline after the Fed announced Operation Twist and gave a pessimistic outlook citing the significant downside risk for the US and global economy. Markets were also under pressure because of concerns of economic slowdown in Europe and China. From 2:20pm yesterday (when the Fed statement was published) through today’s close, the Dow lost over 660 points (5.8%).
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Markets closed lower after the Fed’s announcement of “Operation Twist” sent the markets reeling. The Dow closed down 283 points, and the S&P down 35 points as the dollar strengthened against the Euro and Yen following the FOMC announcement and pessimistic outlook for the economy.
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