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Wall Street pitches fit after Fed's tapering announcement

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The tapering continues: The Federal Reserve announced Wednesday afternoon that it would reduce its bond-buying by another $10 billion in February.

Even though this decision was expected, stock prices fell in reaction to it.

The Fed said it decided to “make a further measured reduction in the pace of its asset purchases” because of “growing underlying strength in the broader economy.” This tapering began last month, when the Fed announced it would reduce its purchases of Treasury bonds and mortgage-backed securities to $75 billion in January. Now that will be reduced to $65 billion in February.