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February 22, 2018

Spike in bond yields upends stock rally

By ALEX VEIGA
AP Business Writer

U.S. stocks closed broadly lower Wednesday, erasing an early gain, as investors reacted to a late-afternoon surge in bond yields.

Bond yields climbed to their highest level in four years after the Federal Reserve released minutes from its latest policy meeting. The minutes showed bullish sentiment among policymakers, confirming their intention to raise interest rates this year.


 
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