US stocks add to gains as Fed keeps rates low
New York (AFP) - Wall Street stocks jumped further Wednesday afternoon after the US Federal Reserve kept interest rates low and announced no major changes to monetary policy.
Near 1915 GMT, the Dow Jones Industrial Average stood at 17,344.12, up 275.25 points (1.61 percent). The Dow was up about 150 points in the moments before the 1900 GMT Fed announcement.
The broad-based S&P 500 rose 37.26 (1.89 percent) to 2,010.00, while the tech-rich Nasdaq Composite Index bolted up 79.53 (1.75 percent) to 4,627.36.
The Fed made no changes to its monetary policy Wednesday, saying it can remain 'patient' before moving to raise interest rates and normalize its easy-money stance.
The Fed left its key interest rate, the federal funds rate, at the 0-0.25 percent level, where it has been for six years to help the US emerge from deep recession.
