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Charles Schwab
Stocks slip after Fed statement; Dollar gains
Stocks slip after Fed statement; Dollar gains

U.S. stocks are closing slightly lower after the Federal Reserve said it was shutting down a bond-buying program because the economy no longer needs as much help. An optimistic statement from the Federal Reserve sent the dollar up and gold prices down Wednesday as traders prepared for rising interest rates. Major U.S. stock indexes ended with a slight loss after the Fed confirmed that it was shutting down a bond-buying program because the economy no longer needs as much help. At the end of a two-day meeting, the Fed said that it had ended its $4 trillion bond-buying program, known as quantitative easing, or QE for short, as a result of “underlying strength in the broader...

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