(CNBC) — U.S. stocks closed mixed Tuesday, attempting to stabilize after a sharp sell-off, as commodities recovered slightly.
The major averages fluctuated between gains and losses throughout the day. The Dow Jones industrial average managed to close above the psychologically key 16,000 level, while the S&P 500 remained below 1,900 after closing below that level Monday.
"People are waiting, or wanting, to see if we can retest the August lows before they step back in," said Peter Coleman, head of trading at Convergex. "There's no catalyst to get this market going forward. We're into a downtrend until we get some clear feedback— where the Fed's going? Can oil bottom? (Until) the 10-year can get to 2.30, 2.50, it indicates a ton of fear in the market."
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