Interesting times: Dow Industrials rise 525 points for the week

This past week may have been what the writer of the Chinese curse “May you live in interesting times” had in mind. The days and weeks around Federal Open Market Committee meetings are often interesting times, and this week was every bit of that. Happily, after two anxious days to open the week, stock prices rebounded for three days, and ended the week with the Dow and S&P 500 almost back to their all-time highs.
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Fed changes policy language but says it didn’t; stocks rise about 2%

Stocks got a boost on Wednesday from the Federal Open Market Committee, which said that, based on its current assessment of economic and market conditions, “it can be patient in beginning to normalize the stance of monetary policy.” Up from the open today, stock prices shot higher after the 2:00 release of the Fed’s post-meeting policy statement and ended today’s trading with the Dow Jones Industrials up 288 points or 1.7%; the S&P 500 and NASDAQ were each up a little more than 2%.
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Last week’s stock sell-off continued on Monday, a bit on the milder side

Stocks started strong out of the box on Monday, after the Fed reported that U.S. industrial production increased an eye-popping 1.3% last month. But the Dow Jones Industrial Average failed to hold on to its early 125-point gain. Soon enough, the gloom that pervaded global markets was back, and the blue-chip benchmark ended Monday down 100 points or 0.6%. That was an improvement on its worst level of the day – just before noon – when the Dow was down 165 points or 1%.
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One week off its high, Dow drops 3.8% in second week of December

Two days after a 268-point or 1.5% decline, the Dow Jones Industrials lost another 316 points or 1.8% on Friday, bringing the full week’s decline to 678 points or 3.8%, the biggest one-week decline since 2011. Since the prior Friday’s 17959 close was an all-time high, the Dow is also 3.8% off its high. The S&P 500 fell 3.5% for the week (1.6% of it on Friday), and NASDAQ lost 2.7% (1.2%).
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