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US: Stocks mostly down as dollar gains


[NEW YORK] Wall Street stocks on Thursday opened mostly lower as the dollar bounced back after a dovish Federal Reserve policy announcement hit the greenback in the prior session Five minutes into trade, the Dow Jones Industrial Average was at 18,010.81, down 65.38 points (0.36 per cent).

The broad-based S&P dropped 5.78 (0.28 per cent) to 2,093.72, while the tech-rich Nasdaq Composite gained 6.41 (0.13 per cent) to 4,989.23.

US stocks pulled back after Wednesday's rally, which was sparked by a dovish turn by the Federal Reserve on the expected pace of interest rate increases over the next year.

The euro, which surged Wednesday, fell back to US$1.0660 from US$1.0871.


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