Dow Drops 81 Despite Fed News

Oil prices tumble $2.79
By Nick McMaster,  Newser Staff
Posted Sep 23, 2009 3:21 PM CDT
Dow Drops 81 Despite Fed News
Anthony Rinaldi, left, of LaBranche & Co. and James Kay of J.P. Morgan Securities trade shares in Cemex on the floor of the New York Stock Exchange Wednesday.   (AP Photo/Henny Ray Abrams)

After an initial boost off the Fed's cautiously optimistic announcement and decision to leave interest rates unchanged, stocks fell late in the session, the Wall Street Journal reports. Crude oil tumbled $2.79 to $68.53 a barrel, driving sell-offs in energy stocks that in turn depressed the major indices. The Dow dropped 81 points to close at 9,749. The Nasdaq lost 15 points, settling at 2,131, and the S&P 500 fell 11 points to close at 1,061.
(More Dow Jones stories.)

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