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The Dow industrials and the broader market held onto early sharp gains on Wednesday after the Federal Reserve kept rates unchanged, as expected, and indicated that tapering of asset purchases “may soon be warranted,” without providing specific details on timing and pace. The Dow Jones Industrial Average DJIA, +1.24% was trading nearly 500 points higher, or 1.4%, at 34,402, the S&P 500 index SPX, +1.11% traded 1.3% up at 4,410, while the Nasdaq Composite Index COMP, +1.00% advanced 1.1% at 14,914.
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