US stocks fall, then rally on Fed announcement
Arab Today
US stocks Wednesday recovered after initially tumbling following a decision by the US Federal Reserve to scale back its bond-buying program. At 1905 GMT, five minutes after the Fed's announcement, the Dow Jones Industrial Average rose 121.44 (0.76 percent) to 15,996.70. The S&P 500 added 5.47 (0.31 percent) at 1,786.47, while the tech-rich Nasdaq Composite Index fell 7.21 (0.18 percent) to 4,016.47. All three indices recovered after initially plunging on the announcement.
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