Dramatic Market Reversal Underway (DJIA, SPX, CAT, FCX,)

The major averages have accelerated to their worst levels of the day, with the Dow Jones Industrial Average (DJIA) down roughly 25 points and the S&P 500 (SPX) down 5 points. Earlier, the Dow was up over 100 points and traded over 11,200. The Dow is now at 11,085. Strong earnings from Caterpillar CAT and Freeport-McMoRan FCX have failed to excite investors. These stocks have been leaders during the market's rally which began in early September. The US Dollar index (.DXY) has turned positive, which has put pressure on commodities and stocks. The index is up 0.30, or 0.39%, to 77.41. Earlier, the dollar index traded down to 76.85. Many analysts are saying the dollar is set to rally with sentiment so negative. The dollar index was over 88 in early June and traded as low as 76 earlier this month.