The stock market continued to see huge volatility on Wednesday with the Dow dropping almost 200 points and then closing flat. Market rumors swirled that the Federal Reserve might initiate an emergency rate cut before its scheduled meeting on Oct. 31. The team at CNBC's "Fast Money" analyzed the day's events for investors.It surprised Karen Finerman to see the strength in the reversal. Pete Najarian expressed his love for the volatility in the markets, because it allowed him to sell some strength and then buy weakness. Case in point, he used Wednesday's market volatility to buy Microsoft ( MSFT) and Yahoo! ( YHOO). Jeff Macke disagrees and believes this was a tough day for the bulls and bears to make money. The Nasdaq struggled early Wednesday, dropping almost 3% with the semiconductors leading the decline. Najarian would avoid buying the dips in the chipmakers, but he would buy the gadget makers like Nokia ( NOK), Research In Motion ( RIMM) and Apple ( AAPL).