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June 17, 2021
NEW YORK — U.S. stocks fell and bond yields climbed Wednesday after the Federal Reserve signaled it may start easing off the accelerator on its massive support for the economy earlier than previously thought.
The S&P 500 fell 22.89, or 0.5%, to 4,223.70 after the Fed unveiled a highly anticipated set of projections by its policymakers, which showed some expect short-term rates to rise half a percentage point by late 2023. The Fed's chair also said it has begun talking about the possibility of slowing down the bond purchases it makes every month to keep longer-term rates low.
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