US stocks fall on cautious Fed outlook

NEW YORK: US stocks slumped on Wednesday after the Federal Reserve offered a cautious outlook on the struggling economic recovery and vowed to maintain its policy of ultra-low interest rates. The Dow Jones Industrial Average fell 80.34 points (0.66 per cent) to close at 12,109.67. The broader SandP 500 tumbled 8.38 points (0.65 per cent) to 1,287.14, while the tech-heavy Nasdaq Composite dropped ...

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Source: Business Times

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