Market Insider

Markets challenge Fed, Apple gets sauced as more earnings awaited

Federal Reserve Chairman Ben Bernanke presides over his final meeting this week and already markets are putting his successor to the test.

The Fed begins a two-day policy meeting on Tuesday, and is expected to announce Wednesday that it will reduce its $75 billion-a-month bond-buying program by another $10 billion. Fed Vice Chair Janet Yellen will be sworn in to replace Bernanke when his term ends on Friday.

Stocks floundered Monday, after two days of searing volatility late last week. The fell 41 points to 15,837 after seesawing for much of the day, and the S&P slipped 8 points to 1781. The was the biggest loser of the three, off 44 points at 4083.