US stock markets set new records after its Federal Reserve chairman Ben Bernanke announced that it would scale back its monthly cash injection via a bond-buying programme from $85bn to $75bn. This indicates the Fed intends keeping interest rates low. The Dow rose 1.8% to 16 168 and the S&P500 was up 1.7% at 1 810 – both new all-time highs. The Nasdaq was up 1.2% to 4 070. Banking and residential construction shares were among the leaders.
Visited 35 times, 1 visit(s) today
