Stocks Swing To Gains After Fed Drops 'patient' From Statement

Stocks swung to gains Wednesday after the Federal Reserve dropped the word "patient" from its policy statement regarding the central bank's rate-hike stance. The Dow Jones Industrial Average jumped 85 points, or 0.5%, to 17,934, after being down more than 100 points just before the statement. The S&P 500 Index rose 13 points, or 0.7%, to 2,088, after being down about 8 points before the statement. The Nasdaq Composite Index jumped 26 points, or 0.5%, to 4,963, after being down more than 17 points before the statment.