U.S. stocks were firmly higher Wednesday afternoon following a move by the Federal Reserve to raise its benchmark policy rate by 75 basis points for a fourth straight time — on par with market expectations — while hinting at a potential slower pace of monetary tightening ahead.
The S&P 500 (^GSPC) gained 0.6%, while the Dow Jones Industrial Average (^DJI) jumped 280 points, or 0.9%. The technology-heavy Nasdaq Composite (^IXIC) was up 0.3%.
“In determining the pace of future increases in…
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