REUTERS/China Daily The Fed announced a taper and stocks are spiking.
The Dow is up 164 points and the S&P 500 is up 12 points.
Gold is basically unchanged and bonds are now up a little bit, with the yield on the 10-year at 2.89% (up 5 basis points from yesterday's close).
The Fed will taper its asset purchasing program to a monthly rate of $75 billion from the current $85 billion pace, the FOMC just announced.