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Wednesday, June 20, 2012

US Federal Reserve extends stocks mostly lower

United States (US) stocks closed mostly lower Wednesday after the Federal Reserve extended its bond-swapping programme, known as 'Operation Twist', for six months to help boost the flagging economy.

The programme, scheduled to expire at the end of June, was extended through the end of the year, the central bank's policy-setting Federal Open Market Committee announced after a two-day meeting.

The Dow Jones Industrial Average finished the session down 12.94 points, or 0.10 per cent, at 12,824.39.

The S&P 500-stock index fell 2.29 (0.17 per cent) to 1,355.69, while the tech-rich Nasdaq rose a meager 0.69 (0.02 per cent) to 2,930.45.


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