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Fed change of language raises rate worries

Wall St sells stocks, buys bonds; 30-year Treasury yield drops to record low of 2.3%, 10-year yield falls to lowest since May 2013

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IT was a weak session for the local market on Thursday, even as the Straits Times Index slipped only 0.10 point to 3,419.05, as sentiment was cautious in response to a Wednesday plunge on Wall Street that came after the US Federal Reserve released a hawkish statement following its Federal Open