source: http://feedproxy.google.com/~r/businessinsider/~3/-i4fAFOzMw0/markets-react-to-fomc-2013-9
The Federal Reserve's FOMC statement is out, and it's a shocker!
The Fed is NOT TAPERING its massive $85 billion large-scale asset purchase program.
Almost no one expected this.
The Dow went from -40 to +63 in the blink of an eye.
The S&P 500 got as high as 1,718, which is an all-time intraday high.
The U.S. dollar tanked, and gold spiked.
The 10-year Treasury note yield tanked to 2.76% from around 2.86% before the announcement.
Here's the market action charted via Bloomberg's Michael McDonough:
