Stocks wither as Fed throws cold water on early rally

New York • A big rally in U.S. stocks evaporated Wednesday as the Federal Reserve appeared to struggle with questions related to inflation and government policy and suggested it might start trimming its balance sheet later in the year. Stocks had jumped early on after payroll processor ADP said private U.S. businesses added 263,000 jobs in March, which was more than analysts expected. The Dow Jones industrial average rose as much as 198 points, and the Nasdaq composite reached an all-time intrad...

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