U.S. equities ended lower for the day, led by the financials sector.

In economic news, the producer-price index unexpectedly declined in September.

Also, the Federal Reserve announced that it plans to purchase more short-term Treasuries.

Corporate news was light today.

Treasury prices rose as interest rates declined.

The Dow Jones Industrial Average was down 314 points, or 1.2 percent, to 26,164.

Volume on the New York Stock Exchange was high, with 3.38 billion shares traded. Decliners outnumbered advancers by 2-1.

Gold rose $7.40 to $1,511.80, silver rose .03 cents to $17.76, and crude oil prices fell 48 cents to $52.27 a barrel.

The 30-year Treasury yield closed lower at 2.03 percent, and the 10-year Treasury yield finished lower at 1.53 percent.

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