WASHINGTON/TOKYO - The US Federal Reserve will probably end its massive bond-buying program this fall, and could start raising interest rates around six months later, Fed Chair Janet Yellen said on Wednesday, in a comment which sent stocks and bonds tumbling.
Asian stocks fell, with the regional gauge heading for a six-week low
The MSCI Asia Pacific Index declined 0.8% to 133.61 as of 9:45 a.m. in Tokyo, heading for the lowest close since Feb 7. The Fed said overnight that its key rate, currently near zero, would be 1% by the end of 2015 and 2.25% a year later.
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