Stocks prices remain depressed in broad-based weakness. Decliners
outpace advancers by nearly 9-to-1 on the NYSE and on the Nasdaq by
16-to-3.
The FOMC will release the minutes for its Oct. 29 meeting in about
thirty minutes. At the meeting, the FOMC cut the target fed funds rate
by 50 basis points to 1.00%, noting increased economic risks and
decreased inflation risks. Since the meeting, the effective fed funds
rate has averaged 0.29% as the Fed pumped massive amounts of liquidity
into the system to stave off a financial market collapse.