One heck of a slide into the close for the S+P 500

In highlighting the 3.60% slide in the Nasdaq 100 earlier today, we should also note the dramatic impact the Fed policy decision had on the S+P 500 yesterday evening. The index handed back 2.95% on the session and that was the largest one day decline since the beginning of August. The index fell from a session high at 6,070, to a low at 5,867- fall fall of over 200 points from the top to the bottom. The index later closed 178.45 points lower, at 5,872.16. As you can see that close was right on the low of the day. It was also below its 50 day moving average (5,922.51) for the first time since the beginning of September. The index futures are attempting to edge higher this morning, but unlike the Dow Jones futures right now, the rebound is only modest. The S+P 500 is currently priced to reopen around 5,884