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Tech stocks lead broad gains; Dow hits new high

Tech stocks lead broad gains; Dow hits new high

Technology companies led U.S. stocks higher Wednesday in a broad rally that helped nudge the Dow Jones industrial average to a new high.

In remarks before Congress, Federal Reserve Chairwoman Janet L. Yellen raised the possibility that the central bank would consider slowing the pace of its interest rate increases if inflation remained persistently below its target level.

The move assuaged concerns among some traders worried that the Fed has been moving too quickly to raise interest rates amid a slowdown in inflation and the U.S. economy's sluggish growth.

Yellen's remarks put investors in a buying mood and sent bond yields lower, stoking demand for real estate...

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