New York: The Dow and the S&P 500 closed at all-time highs on Wednesday after the Federal Reserve announced a small reduction in its stimulus program, confirming that the US economy was on firm footing.
The US central bank said it would reduce its monthly asset purchases by $10 billion to total $75 billion. (Read more)
The Dow Jones industrial average rose 293.03 points, or 1.85 per cent, to end unofficially at 16,168.29, a record closing high.
The S&P 500 gained 29.65 points, or 1.66 per cent, to finish unofficially at 1,810.65, also a record closing high.
The Nasdaq Composite added 46.384 points, or 1.15 per cent, to close unofficially at 4,070.064.
Copyright @ Thomson Reuters 2013
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