Sep 18, 2013 2:34 PM by Associated Press
NEW YORK (AP) - Investors plowed money into stocks and bonds after the Federal Reserve's surprise decision to keep its economic stimulus program in place.
The news sent the Standard & Poor's 500 index and the Dow Jones industrial average to record highs.
Bond yields fell sharply after the central bank said it would continue its huge bond-buying program.
Gold prices also rose and the dollar fell as investors anticipated that the continuation of the program might lead to inflation.
The S&P 500 was up 16 points, or 1 percent, to 1,721 in afternoon trading. The Dow rose 114 points, or 0.7 percent, to 15,641.
The yield on the 10-year Treasury note fell to 2.76 percent from 2.87 percent.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at email@example.com, and include the name of the story and information on the comment.
Thank you! KSBY.com