The Dow Jones Industrial Average (DJI) is deepening this morning's losses, down nearly 320 points at last check, as the Federal Open Market Committee's (FOMC) two-day policy meeting gets underway. The S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are firmly lower as well, with the 2-year and 10-year Treasury yields surging to their highest levels since 2007 and 2011, respectively. Investors are worried the central bank will double down on its hawkish stance, though most already expect a 0.75 basis point interest rate hike.

Luminar Technologies Inc (Nasdaq: LAZR) is getting blasted in the options pits, with 45,000 calls and 33,000 puts exchanged so far, which is nine times the average intraday volume. The two most popular contracts are the weekly 9/30 10-strike call and the weekly 9/23 9-strike put, with positions being opened at both. LAZR is up 4.8% at $9.55 at last glance, after J.P. Morgan Securities initiated coverage of the equity with an "overweight" rating and $30 price target. The shares are struggling still with pressure at the $10 level, though, despite support at their 40-day moving average. Year-to-date, LAZR is down 42.5%.

Near the top of the New York Stock Exchange (NYSE) today is AEA-Bridges Impact Corp(NYSE: IMPX), last seen up 11.1% at $11. A driver for today's positive price action remains unclear, though the security earlier surged to an all-time high of $12.27, just days after bouncing off its Sept. 13, record low of $9.14. Shares are today eyeing their fourth win in five sessions, as well as their best single-day percentage jump since the stock began trading publicly in January.

Conversely, Annovis Bio Inc (NYSE: ANVS) is towards the bottom of the NYSE. Last seen down 10% at $16.80, the company last week announced the publication of patents covering amyloid lateral sclerosis, Huntington's disease, and Prion disease treatments. Shares seem to be cooling from a Sept. 15 rally north of the $23 mark, which marked the security's highest peak since December and are now eyeing a third-straight daily loss.

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