Wall Street stocks climbed to fresh record highs while Treasury prices slipped as the Federal Reserve confirmed plans to scale back its substantial pandemic-era monetary stimulus.
The US central bank announced it would begin winding down its monthly bond-buying programme later this month.
The announcement had been widely expected, and stock markets reacted positively to the lack of any further shock despite earlier concerns that the pull back in crisis-era stimulus could derail the recent equities rally.
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