Stocks Close Mixed After Wild Day on Wall Street

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Why the selloff?

Oct. 16, 201402:11

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Stocks took another roller coaster ride Thursday, first tumbling, then rising, then closing narrowly mixed as investors weighed worries about global growth and Ebola against mostly upbeat corporate earnings. "The market is not trading off of fundamental news, it is trading off worries, whether it's the importing of weak economic growth or Ebola," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

The benchmark Dow Jones Industrial Average closed slightly lower after shedding more than 1 percent at the opening bell. The broader S&P 500 closed essentially flat while the tech-heavy Nasdaq closed slightly higher. It was the Dow's sixth straight declining session and the index's longest losing streak of the year. The volatility matched Wednesday's turbulence when the Dow closed down 173 points, or 1.06 percent, paring losses after an intraday decline of 458 points. Ebola fears have been rattling the U.S. stock market, according to CNBC's Jim Cramer. While other factors are also at play, Cramer said he thinks worries about the deadly virus are why so many traders are looking to sell equities in recent days. Weighing against that: mostly better-than-expected U.S. earnings and economic reports.


-- CNBC and NBC News staff