Crude Oil Sitting Near Lows

As the trading day in U.S. equities comes to a close, crude oil has reversed a rally in the immediate aftermath of this afternoon's FOMC statement. At last check, NYMEX crude was sitting near its lows for the day just above $81.00, a loss of nearly 4%. The move lower in oil has been accompanied by some weakness in U.S. equities, which have been volatile on Fed day, but haven't made a substantial move in either direction. Heading into the close of trading, the Dow was down roughly 40 points while the Nasdaq was holding up best with a loss of just 0.13%. Most of the major sectors are lower on the day, but financials and consumer cyclicals were last up 0.13% and 0.18%, respectively.