Wall St. volatile as Fed set to reduce balance sheet

Stocks wavering here as the Fed confirms it will begin its balance sheet wind down in October. Plus – Apple shares weak as bugs strike the new Watch. Is this a long-term threat for Apple? And – the latest threat to Obamacare is gaining steam – does it have any chance in the Senate? Plus a look ahead to everything you need to know about tomorrow, which will be a heavy day for economic data. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer

Winners and losers

Stocks in the red today include Western Digital as Bain struck a deal to acquire Toshiba’s chip unit, a blow for Western Digital, General Mills after missing on both the top and bottom lines, citing lower sales of cereals and yogurt, and Bed Bath and Beyond as the home goods retailer reported a profit and revenue miss, and had same-store sales that fell more than expected.

Stocks heading the opposite direction: Gemphire Therapeutics after announcing it would advance its cholesterol treatment to phase 3, Blackberry – the one-time maker of smartphones jumping on a self-driving software partnership with Delphi, and Alnylam – shares higher as it and Sanofi announced positive results for a nerve disease treatment.

Latest on ‘Trumpcare’

President Trump is urging GOP senators to back new health care legislation from senators Lindsey Graham and Bill Cassidy. Under the latest proposal, the expansion of Medicaid would be rolled back and insurance exchanges set up by the ACA would be undermined. Rick Newman has the latest