The S&P 500 and the Nasdaq hit record highs for a fifth straight session as the Federal Reserve came through with an expected plan to start pulling back on the huge help it's been giving to the economy
The central bank's easy money policies have been a significant support for markets, with the S&P 500 more than doubling since its March 2020 low at the onset of the pandemic.
A trader works on the trading floor at the New York Stock Exchange in Manhattan, New York City, U.S., August 9, 2021. REUTERS/Andrew Kelly/File Photo
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