Dow Jones Extends Losses Amid Fed Policy Concerns

The Dow Jones Industrial Average extended its decline for a third consecutive session, closing 0.4% lower at 45,947.32 points. The index dipped to an intraday low matching its closing level, with trading volume remaining strong but market breadth decidedly negative.

Despite the broader market weakness, several components posted significant gains.
* Intel surged nearly 9% on reports of a potential strategic investment from Apple.
* IBM climbed 5.2% after HSBC announced positive results from quantum computing tests for algorithmic bond trading.
* Microsoft and Apple also finished the day in positive territory.

On the downside, used-car retailer CarMax plummeted 20.1% following disappointing sales and profit figures. Oracle retreated 5.6%, while contributions from... Read more...