OANDAU.S. stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.
Along with better-than-feared quarterly results from Apple Inc , the Fed’s comments helped Wall Street reverse two down days triggered by profit warnings from U.S. bellwethers that signaled a bigger impact from a slowdown in China.
The Fed held interest rates steady, as widely expected.
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Asian stocks drifted lower on Wednesday as investors awaited key U.S. inflation data as well as a Federal Reserve policy decision later in the day for additional clues on the outlook for interest rates.
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