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Stocks Surge As Federal Reserve Cuts Interest Rates

US Federal Reserve Interest Rates
People walk under an electronic board showing stock information at the Shanghai Stock Exchange in Lujiazui Financial Area in Shanghai

Stocks surged midday on Wednesday following the Federal Reserve's decision to cut interest rates by half a point, prompting a positive response from investors.

The Dow Jones Industrial Average climbed by 303 points, representing a 0.7% increase. The S&P 500 also saw gains of 0.7%, while the Nasdaq Composite rose by 0.9%.

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