Markets fell lower on Thursday, with the Dow ending the day down 146 points, while the S&P 500 saw a more than 1% drop, and the Nasdaq suffered another triple-digit haircut. The Fed quickly put to bed any hopeful readings of yesterday's commentary. The central bank followed up on yesterday's rate hike by making it clear there would be more to come. 

The Dow Jones Average (DJI - 32,001.25) dropped 146.5 points or 0.5% for the day. Boeing (BA) led the gainers, adding 6.3%, while Apple (AAPL) paced the laggards with a 4.2% loss.

The S&P 500 Index (SPX - 3,719.89) shed 39.8 points or 1.1% for the day. The Nasdaq Composite (IXIC - 10,342.94) fell 181.9 points or 1.7% for the session.

Lastly, the Cboe Volatility Index (VIX - 25.30) lost 0.6 point or 2.2% for the session.

Gold Hits 2 1/2-year Low As Dollar Strengthens 

Oil prices fell from three-week highs today as economic recession fears weighed on the commodity once more. December-dated crude lost $1.83, or 2%, to finish at $88.17 per barrel.

A strong U.S. dollar weighed heavily on gold, which fell to its lowest level since April 2020. December-dated gold shed $19.10, or 1.2%,to settle at $1,630.90 an ounce.

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