The Fed showed more optimism about the economy and signaled rates would rise faster than previously projected, as it unanimously approved its second rate increase in a decade.

The Dow posted its worst drop since Oct. 11 in the wake of the Fed meeting, falling 118.68 points to 19792.53.

The dollar rose to a 14-year high, renewing fears that a strong U.S. currency could strain the global economy.

Treasurys pulled back sharply, pushing the yield on the two-year note to a seven-year high.

A newly discovered data breach exposed the private information of over a billion Yahoo users, dwarfing another disclosed hack and casting doubt on the Verizon deal.

Exxon's board faces a quandaryover how to make a financial break with CEO Tillerson. The firm tapped Darren Woods to succeed him.

Calpers officers plan to propose lowering the pension fund's investment target.

VW's emissions-cheating scandal could involve more vehicles than previously acknowledged, according to an EU research body.

Sanofi would potentially offset declining sales of its insulin if it reaches a deal with Swiss biotech Actelion.

OPEC said it would need non-OPEC producers to act on a pledge to reduce output if an oil glut is to disappear.

Fidelity is removing short-term trading fees for 75 funds, a move to adapt to the popularity of ETFs.

(END) Dow Jones Newswires

December 15, 2016 02:47 ET (07:47 GMT)

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