Both the Dow and S&P 500 were on track for their biggest daily percentage decline since late October.This was after the plane maker posted a record annual loss, and took a hefty $US6.5 billion charge on its all-new 777X jetliner due to the COVID-19 pandemic and the aftermath of a two-year safety crisis over its 737 MAX.The central bank made no change to its monthly bond purchases, as was widely expected, and pledged to keep that support intact until a full economic rebound is in place.
"The [Fed] statement itself really did not contain much new information, but it did put a lid on fears that the Fed may be considering tapering asset purchases sooner than expected," said Jason Pride, chief investment office for private wealth at Glenmede in Philadelphia. If anything, the Fed added a statement recognising that the pace of recovery has moderated in recent months."Spot Gold fell to to $US1,840.21, its lowest value in more than a week.
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