Wall Street Dips on Wednesday, Fed to End Bond-Buying Program
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iStock/Thinkstock(NEW YORK) — The markets fell on Wednesday, following a strong start to the week.
The Dow Jones Industrial Average dipped 31.44 to 16,974.31, falling back below 17,000 just one day after it jumped back over the milestone.
The Nasdaq slumped 15.06, closing at 4,549.23, while the S&P 500 slid 2.75 to a finish of 1,982.30.
The Federal Reserve on Wednesday announced that it would end its bond-buying program later this month. That decision was made after the Federal Open Market Committee determined that “there has been a substantial improvement in the outlook for the labor market” since the program was implemented.
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