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AP National Business

Stocks little changed amid Fed’s plans to ease bond buying

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Published 1:35 PM

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks remained near all-time highs on Wall Street Wednesday after the Federal Reserve announced plans to begin reducing the extraordinary aid for the economy it has been providing since the early days of the pandemic. The Fed said it will begin gradually reducing its $120 billion in monthly bond purchases in the coming weeks by $15 billion a month. The central bank’s announcement was in line with what economists expected. The S&P 500 rose 0.1%. The Dow Jones Industrials fell 0.2%. The Nasdaq rose 0.2%. All three set their latest record highs a day earlier. Bond yields rose and crude oil prices fell.

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