Wall Street; Stocks Plunge After Fed Announcements

Summary

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NEW YORK (AP) - Stocks fell sharply Wednesday as the Federal Reserve, shifting its stance on interest rates, signaled that an increase is coming. The Dow Jones industrials tumbled more than 140 points.

After a two-day meeting, the Fed's Open Market Committee left rates unchanged, maintaining a 45-year low. But in a statement, the central bank dropped its previous wording that rates would be maintained for a "considerable period." Instead, the Fed said, "with inflation quite low ... the committee believes that it can be patient in removing its policy accommodation."

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Wall Street; Stocks Plunge After Fed Announcements

"If you look through all the comments, ...

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