In world markets, Asian stocks finished higher, with Japan's Nikkei index
rising 1.9 percent.
The Nikkei index
is expected to trade between 15,700 and 16,300 next week with the Fed's rate decision and its accompanying statement crucial in determining the market's direction.
The key Nikkei index
closed below 17,500 for the first time since last Friday, when it ended at 17,431.26.
* An index swap also allows investors to defer tax on appreciated securities by swapping the portfolio's performance for that of an index such as the Standard & Poor's 500 or the Nikkei index
. * By using a zero-cost collar, investors who do not need diversification can be protected against up-and-down market movement.
The low-cost capital unleashed a flood of lending and speculative activity on the stock market, which soared past 39,000 yen on the Nikkei index
at its peak in December 1989.
Tokyo stocks surged Tuesday morning, with the Nikkei index
hitting its highest level in about three weeks due to the yen's slide and a rosier global economic outlook.
Tokyo stocks surged Tuesday, with the Nikkei index
ending up nearly 3 percent at its highest level in three weeks due to the yen's slide
Tokyo stocks climbed Wednesday with the Nikkei index
ending at a one-month high above the 14,000 line as buying on the yen's weakness offset earlier selling to lock in recent sharp gains.
Tokyo stocks lost ground Thursday with the Nikkei index
ending at a fresh two-month low amid concern over an early tapering of the U.S.
The Nikkei index
ended above the 14,000 line for the first time in about one week on Wednesday amid optimism about the global economic recovery following a series of sound economic data.
Tokyo stocks plunged Wednesday, with the Nikkei index
dropping nearly 2 percent, as sentiment was hurt by the yen's sharp climb and weaker U.S.
Tokyo stocks tumbled Wednesday, with the Nikkei index
sinking 4 percent to end below the 14,000 line, weighed down by the yen's sharp gain and renewed concern about an early end to the U.S.