The U.S. stock market had a bummer of a day Wednesday as a continued rally in crude, some negative news from the Federal Reserve and a weak day for financial services contributed to investor grumpiness. The Dow lost 1.8%, the S&P 500 tumbled 1.6%, and the Nasdaq gave up 1.8%.On CNBC's "Fast Money" TV show, the traders observed that oil hit $134 a barrel today. Jeff Macke said that the Fed's comments were not really news, but the market didn't want to hear it. Karen Finerman said that retail stocks have had a run-up lately. She'd like to buy some more, but she's waiting for an opportunity to get in lower, she said. Guy Adami said that from March until a few days ago, the market has been "on fire." He predicted a correction and recommended that investors buy stocks they had missed. When tech pulls back, get into tech, he said. Najarian observed that Goldman Sachs downgraded several natural gas stocks. He said that the surge in oil prices was accompanied by a surge in the volatility index. Fear is returning to the marketplace, spurring profit-taking in energy names like ConocoPhillips ( COP - Get Report) and Exxon Mobil ( XOM - Get Report), he said. He said the only thing that held on to gains for the day was the U.S. Natural Gas ( UNG - Get Report) ETF.
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