Fed Minutes Anticipation Cause Wall Street and Financial Markets to Slip

Wall Street and the financial markets fell today after anticipation that the Fed Minutes will not ease the credit crunch in the market.

The Dow Jones lost 280.28 points to close down 2.10% at 13,041.85. The Nasdaq lost 2.37% or 60.61 point to finish at 2,500.64. The S&P 500 closed at 1,432.36, losing 2.35% or 34.43 points.

At the last meeting of the Federal Reserve, the Fed Minutes said that they would be holding interest rates the steady for the time being, but there has been some speculation that the Fed Minutes would allow some lowering of interest rates to support the mortgage and housing markets and ease the credit crunch.

What do you think the Fed Minutes will show? Up, Down or Sideways?