Bonds Surge, Stocks Rally After Fed Turns Dovish: Markets Wrap
- Health care, utilities sectors push S&P close to record high
- Dollar weakens most versus majors since May; Crude oil rises
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U.S. stocks rallied for a third day and yields on shorter-maturity Treasuries tumbled after the Federal Reserve struck a dovish tone in its latest policy statement. The dollar weakened against almost all its major peers.