Dow ends more than 500 points higher after Fed delivers rate hike

Stocks ended sharply higher Wednesday in a session marked by big swings after the Federal Reserve delivered a widely expected quarter-point rate hike and penciled in a series of increases over the rest of the year. The Dow Jones Industrial Average dipped into negative territory after the Fed announcement, but roared back by the closing bell to end the session up around 519 points, or 1.5%, near 34,063. The S&P 500 jumped 2.2% to close near 4,358, while the Nasdaq Composite advanced 3.8% to close near 13,437.

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