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Stock Market News Update for Tuesday, December 14, 2010

The Dow landed at its highest level since September 2008 on Tuesday, but an early rally faded as the Fed’s policy meeting proved to be a nonevent and Treasury yields hit seven-month highs.

Investors found little reason to jump into the fray after the Fed kept rates steady and left its bond-buying plan alone. The late-day selloff from session highs, Wall Street’s second in as many days erased much of an 86-point rally on the Dow that had been fueled by stronger-than-expected November retail sales.

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