Update 10:10 ET: The Dow is currently up more than 200 points.
Update 9:55 ET: The Dow is maintaining its upward incline, currently up 100 points.
U.S. stocks are on the way up. The Dow Jones industrial average opened the morning up 100 points but quickly gave ground back as traders waited to hear a statement from the Fed on its reaction to Monday's losses, which amounted to the worst day on Wall Street since the 2008 financial collapse, with the Dow dropping more than 600 points and a paper loss of about $1 trillion. The S&P's downgrade of the U.S. credit rating Friday spurred the tumble, lowering the U.S. rating from AAA to AA+. Today, CNN Money has warned that stocks appeared to be ready for a "choppy session" given pre-market activity. "Futures were swinging wildly between positive and negative territory."
This article is from the archive of our partner The Wire.
We want to hear what you think about this article. Submit a letter to the editor or write to email@example.com.