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19 Mar 2014
Wall Street closes down after Fed decision
FXStreet (San Francisco) - The US stocks closed lower on Wednesday following Federal Reserve decision to cut another $10 Bn in its bond buying monthly pace but maintain interest rates unchanged.
Rates were, however, the point of salt of Yellen's intervention as the chair suggested interest rate would rise in about six months but not before quantitative easing program ends. In this line, the Fed will keep reducing stimulus.
The Dow Jones declined 113.12 points or 0.69% to finish at 16,223.07; the S&P 500 eased 11.41 points or 0.61% to 1,860.84; while the Nasdaq Composite fell 25.71 points or 0.59% to close the day at 4,307.60.
Rates were, however, the point of salt of Yellen's intervention as the chair suggested interest rate would rise in about six months but not before quantitative easing program ends. In this line, the Fed will keep reducing stimulus.
The Dow Jones declined 113.12 points or 0.69% to finish at 16,223.07; the S&P 500 eased 11.41 points or 0.61% to 1,860.84; while the Nasdaq Composite fell 25.71 points or 0.59% to close the day at 4,307.60.