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Wall St. ends where it began
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October 5, 1999: 4:20 p.m. ET
Stocks rally before Fed decision, sell off afterward, then finish near even
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NEW YORK (CNNfn) - The Federal Reserve's decision to leave interest rates unchanged but tilt its bias toward tightening roiled U.S. stock markets Tuesday, but late buying helped Wall Street finish the day near unchanged levels.
The market had rallied in anticipation of a Fed decision to leave rates alone, but the addition of the tightening bias rattled investors' nerves, suggesting a rate hike could still be in the cards before the year is over. The stock market sold off in the minutes following the Fed's announcement, only to claw its way back by the closing bell.
According to preliminary data, the Dow Jones industrial average finished the day virtually unchanged, 0.64 points lower at 10,400.59. On the New York Stock Exchange, declines outnumbered advances by 1,789 to 1,223 on heavy trading volume of 959 million shares.
The Nasdaq Composite, after a similar roller-coaster ride, closed 4.19 points higher at 2,800.16. The S&P 500 index fell 3.17 points to 1,301.43.
The bond market, which had spent the day lingering in a narrow trading range, sold off following the Fed news, with the bellwether 30-year Treasury bond losing 1-7/32 points in price, its yield rising to 6.18 percent from Monday's 6.09 percent.
The dollar was nearly unchanged against both the yen and the euro. 
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