Stocks were all over the place -- here are the 9 big headlines you just missed

The markets had another crazy day.

Stocks ultimately closed down, with the Dow off -1.6%, the S&P 500 off -1.2%, and the Nasdaq off -0.4%.

But that’s just the end score.

Over the course of the day, a bunch of huge economic and business headlines crossed after which stocks shot up and down.

We put them all together to make sure you didn’t miss a thing:

  1. Stocks were sharply lower on Thursday, with the Dow down as many as 408 points around 2:38 p.m.
  2. Markets were so chaotic that investors were jumping into three “risk-off” trades: the Japanese yen, US Treasurys, and gold. All three are often bought up aggressively by investors high-stress times as they are considered “safe.”
  3. Crude oil also got slammed during the day, with WTI futures in New York touching a 12-year low of $26.14 per barrel. WTI crude oil ultimately closed at $27.20, or of by 0.5%.
  4. Major banking stocks including Citigroup and Bank of America were off by about 6%.
  5. But then around 2:50 p.m. stocks and oil surged after a WSJ reporter tweeted that, according to the UAE energy minister, OPEC is ready to cooperate on a production cut. This shot stocks and oil up, and the Dow regained 80 in 15 minutes.
  6. Fed chair Janet Yellen said that the Fed is evaluating whether negative interest rates would work in the US, although she added that a 2010 study found that they wouldn’t work well.
  7. On a related note, PIMCO’s Scott Mather argued that negative interest rates are the problem, not the solution.
  8. Billionaire Bill Ackman wrote an op-ed in support of Michael Bloomberg running for president because “America is burning.”
  9. Boeing’s stock plunged by as much as 12% in morning trading after a report that the feds are investigating its accounting.

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