U.S. stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.
Along with better-than-feared quarterly results from Apple Inc , the Fed’s comments helped Wall Street reverse two down days triggered by profit warnings from U.S. bellwethers that signaled a bigger impact from a slowdown in China.
The Fed held interest rates steady, as widely expected.
via Reuters
