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US stocks fall as Fed maintains rates
U.S. stocks experienced sharp declines amid concerns that the Federal Reserve may delay efforts to combat inflation following its decision to keep interest rates unchanged. The Dow Jones Industrial Average fell by 2.1%, the S&P 500 by 1%, and the Nasdaq by 0.9%. Rising Treasury bond yields, which surpassed 4.66% for the 10-year and 5.18% for the 30-year, heightened inflation fears. Additionally, the Federal Reserve's decision indicated hesitation to raise rates further despite calls from some members. Oil prices surged by over 7% due to escalating tensions in the Middle East, while semiconductor stocks continued to decline sharply, with notable drops in AMD and Microtechnology, amid increased concerns over rising spending on artificial intelligence and competition with Chinese firms.
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