(CNBC) U.S. stocks ended about 2 percent higher on Wednesday as markets extended gains on the FOMC minutes and recovered from Tuesday's selloff.
Closing 274.8 points higher, the Dow Jones Industrial Average had its best day since December 18, 2013. The index rose more than 275 points in intraday trade, briefly touching 17,000 and surpassing Tuesday's 273-point loss. The S&P 500 and the Nasdaq had their best day since nearly a year ago on October 10, 2013.
"This is the near-term good news," JJ Kinahan, chief strategist at TD Ameritrade, said, noting that fixed-income buyers tended towards the short end rather than the long end.
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