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Stock market live Wednesday: Dow gains 400 points, small caps surge, 10-year yield tops 1%

This is a markets live blog for CNBC PRO subscribers that will be updated throughout the day.

The Dow and the S&P 500 rose to record intraday levels on Wednesday but slipped from their highs of the session late in the day. Cyclical stocks, including banks, rose higher and tech stocks fell as investors digested the results of the Senate runoffs in Georgia. Treasury yields moved higher.