Investors reassess Fed fears
NEW YORK -- Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower.
U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted in part by an unexpectedly weak report on manufacturing in China. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also riled investors.
The dip gave investors who had missed this year's rally in stocks an opportunity to get into the market, and by midday stocks had recouped most of their early losses. The market even climbed into positive territory by midday, before ending the day marginally lower.
The Dow Jones industrial average ended the day just 12.67 points lower, or 0.1 percent, at 15,294.50, after falling as much as 127 points during the first hour of trading.
In other U.S. stock trading, the Standard & Poor's 500 index closed down 4.84 points to 1,650.51, or 0.3 percent. The Nasdaq composite fell 3.88 points, or 0.1 percent, to 3,459.42.