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TSX Ends Roller Coaster Last Hour Down 150 Pts; Fed Statement, Europe Debt Concerns Weigh

Toronto's stock index closed Tuesday down 150 points after a roller coaster last hour as the Federal Reserve maintained its policy stance (as expected) but didn't signal a communications shift (as expected). Fears that European debt might be downgraded also weighed.

The index fell from being down 80 points with an hour of trading left to be being by as much as 210 points with less than 30 minutes trading left. But it found buyers - perhaps in the guise of bargain hunters - late in the day and recouped some 60 pts inside the final half an hour.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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