Stocks, bonds rise sharply as Fed keeps stimulus
Investors plowed money into stocks and bonds after the Federal Reserve's surprise decision to keep its economic stimulus program in place.
The news sent the Standard & Poor's 500 index and the Dow Jones industrial average to record highs.
Bond yields fell sharply after the central bank said it would continue its huge bond-buying program.
Gold prices also rose and the dollar fell as investors anticipated that the continuation of the program might lead to inflation.
The S&P 500 was up 16 points, or 1 percent, to 1,721 in afternoon trading. The Dow rose 114 points, or 0.7 percent, to 15,641.
The yield on the 10-year Treasury note fell to 2.76 percent from 2.87 percent.
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