A horrific shooting in California gripped the nation as well as the markets. The first reports of the breaking situation in San Bernardino drove stocks even deeper into the red.
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The Dow was already losing more than 100 points, and sank to a loss of 158 points by market close. The S&P fell 23 points and the Nasdaq lost 33 points.
A small bright spot in Wednesday's markets was the four stocks that make up the FANG group -- Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Google/Alphabet (NASDAQ:GOOGL) -- are all poised to end the year with healthy double digit gains. Facebook and Amazon hit lifetime highs Wednesday!
This, as Barclays (NYSE:BCS) released a note predicting FANG stocks, with the exception of Netflix, will continue their rally into 2016.
Oil saw its biggest drop since October 12, falling 4.5% to close at $39.34. That's the first time it's closed below $40 dollars since August 26.
The dollar also had a huge day; the dollar index, which tracks the greenback against a basket of six other currencies, touched its highest level in 12-and-a-half years as expectations for a Fed rate hike rose after Chairwoman Janet Yellen spoke.