Equities fall, bond yields rise after hawkish Fed statement

By David Gaffen NEW YORK (Reuters) - U.S. bond yields rose and stocks sold off after a U.S. Federal Reserve statement following its two-day policy meeting made it clear that the world's largest central bank still sees a December rate increase as a possibility. The Fed kept U.S. rates at their long-term record lows, but what stood out in the statement was a specific reference to conditions necessary "to raise the target range at its next meeting." It said it will assess progress toward maximum em