Fed Votes 9-1 to Leave Interest Rates Unchanged

Thursday's markets were not for the faint of heart as the Federal Reserve voted 9 to 1 to leave rates unchanged on concerns about a global economic slowdown, low inflation and volatility in the markets.

Uncertainty ruled the day's market. The Dow initially dropped at 2 p.m. Eastern on the news the Fed would be holding interest rates at zero. It then surged at 2:48 p.m. eastern just as Federal Reserve Chair Janet Yellen finished with her prepared remarks. It seems traders and investors alike were relieved she didn't have anything more hawkish to say.

That wasn't enough to prop up the markets indefinitely; stocks sold off into the close, with the Dow crossing the unchanged line 78 times throughout the day. The Dow fell 65 points as the S&P dropped two-tenths of a percent. The Nasdaq managed to close the day higher by a tenth of a percent.