(CNBC) Stocks closed well off their session lows on Thursday after news broke that the Federal Reserve could tighten monetary policy at a slower pace than previously expected.

The Wall Street Journal reported the central bank is considering whether to signal a wait-and-see approach to rate hikes at its upcoming meeting next month. The report said Fed officials do not know what their next move on rates will be after December.

“What this week and half shows is an extraordinary sensitivity to headlines; more so than usual,” said Delores Rubin, senior equities trader at Deutsche Bank Wealth Management. “It’s been very difficult to navigate the waters so far.”

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