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(AP Photo/Lee Jin-man)

MILAN (AP) — World stock markets shot higher Friday after the Federal Reserve met investor expectations by giving the green light to big asset purchases to boost the U.S. economy.

“What wasn’t expected – and explains the particularly exuberant reaction by markets – was the open-ended nature of the latest plan, with the U.S. committing to buy bonds until the economy improves.,” said David Jones, IG chief market strategist. “All of this has raised hopes of providing a shot in the arm for the global economy.”

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