NEW YORK, May 4 (Xinhua) -- U.S. stocks rallied on Wednesday after the Federal Reserve delivered a 50-basis-point interest rate hike and Fed Chairman Jerome Powell downplayed the likelihood of a larger rate increase.
The Dow Jones Industrial Average surged 932.27 points, or 2.81 percent, to 34,061.06. The S&P 500 increased 124.69 points, or 2.99 percent, to 4,300.17. The Nasdaq Composite Index rose 401.10 points, or 3.19 percent, to 12,964.86.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
