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Market this Friday – Dow falls 300 points as The Fed decision

The Federal Reserve on Friday declined to extend a pandemic-era rule that relaxed the amount of capital banks had to maintain against Treasurys and other holdings, in a move that could upset Wall Street and the bond market.

U.S. stocks fell on Friday after the Federal Reserve’s decision to not extend a pandemic-era capital break for banks stoked a rise in bond yields and a sell-off in financials.

The Dow Jones Industrial Average slid 340 points, while the S&P 500 was off by 0.7%. The tech-heavy Nasdaq Composite traded 0.3% lower.

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