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Stocks sink after Fed statement; Facebook earnings after hours

Stocks crumble in late-day trading after the Fed stands pat. Did Janet Yellen and company spook the markets?

Facebook earnings

Facebook reported a profit and revenue beat, which sent the stock soaring after hours. Dan Burns of Reuters broke down all the numbers.

Winners and losers

Stocks that fell into the red include US Steel, Priceline, and Boeing—the world's largest aircraft-maker tumbling after reporting a weak outlook for 2016 that caught analysts by surprise. Boeing also revealed that plane deliveries for 2016 would fall after hitting a record high of 762 deliveries in 2015.

On the flip side, among the stocks moving higher today were Capital One, Hess, and Biogen—the biotech name popping after reporting an earnings and revenue beat. The company also noted several "breakthrough programs" in its pipeline, with drug trials for Alzheimer's disease and spinal muscular atrophy beginning this year.

Interest rates and the gold effect

Gold futures spike today after the Fed announced its decision not to raise interest rates. But how closely are gold prices tied to interest rates? Yahoo Finance's Justine Underhill has a closer look at the charts.

Peter Kenny on the Fed

Veteran market strategist Peter Kenny of Kennyscommentary.com joined us for more on the markets and the Fed. 

Looking ahead

  • It will be another big day for earnings with Amazon, Microsoft, and Ford all reporting quarterly earnings on Thursday.
  • We'll get a read on factory output in the U.S., with durable goods orders for the month of December. Economists are looking for a 0.2% gain month over month, with no change in the ex-transports reading.
  • Finally, we'll get more info on the housing situation with pending home sales data for December. Economists are looking for a 0.8% jump in sales of existing homes, further pointing to strength in the nation's housing sector.