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Stocks End Off Lows, but Fed QE Hopes Fade
03 Apr 2012 EDT - CNBC.com
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Stocks clawed back from their worst levels but still ended in negative territory Tuesday following the latest Fed meeting minutes that showed policymakers toned down the likelihood for further quantitative easing.

The Dow Jones Industrial Average fell 64.94 points, or 0.49 percent, to close at 13,199.55, snapping a three-day winning streak, led by BofA and H-P . Still, the blue-chip index recovered from its triple-digit loss earlier in the session.

The S&P 500 erased 5.66 points, or 0.40 percent, to end at 1413.38. The Nasdaq slipped 6.13 points, or 0.20 percent, to finish at 3,113.57.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended above 15.

Most key S&P sectors ended in negative territory, led by energy and materials.

Stocks were lower for most of the session, but immediately tumbled 1 percent across the board after minutes from the Fed's latest meeting in March suggested that policymakers' appetite for another dose of quantitative easing significantly decreased, amid the improving U.S. economy. At the same time, members of the Federal Reserve remained cautious about a broad recovery, especially on the jobs front.

Stocks eventually recovered from their lows as traders and investors digested the announcement.

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