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Power Goes Out on S&P 500 Rally as China Crashes Fed Celebration

  • The S&P 500 flirts with 2,000 before rate hold drops stocks
  • Utilities boosted, financials hit after the rate decision
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Janet Yellen killed the week’s equity rally by bringing front and center the very things investors had hoped to get past: murkiness over the global economy and interest rates.

Volatility returned to stocks after a brief hiatus, snuffing out the biggest rally before a Federal Reserve decision since 2012, as the central bank delayed raising interest rates because of concerns about global growth and unstable financial markets.