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US stocks surge on Fed pledge to pause, dollar slips

Updated : January 31, 2019 06:35 AM IST

The Fed, in its policy statement at the end of a two-day meeting, struck the language from its December policy statement that indicated further rate hikes would be appropriate in 2019. That language had roiled markets amid signs of slower global growth.
The Dow Jones Industrial Average rose 434.9 points, or 1.77 percent, to 25,014.86. The S&P 500 gained 41.05 points, or 1.55 percent, to 2,681.05, and the Nasdaq Composite added 154.79 points, or 2.2 percent, to 7,183.08.
Stocks listed in London jumped more than 1 percent after British lawmakers late on Tuesday rejected a proposal in Parliament that aimed to prevent a potentially chaotic "no-deal" Brexit, a vote that initially pushed sterling sharply lower.
US stocks surge on Fed pledge to pause, dollar slips

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