3/23, 4:01 PM (Source: TeleTrader)
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Wall Street extends gains, Dow surges over 450 pts

Major stock indexes in the United States rallied during the Thursday session, as investors weighed the Federal Reserve's latest monetary policy statement alongside Chair Jerome Powell's remarks.

The traders are seemingly hoping that the interest rate-raising cycle is close to an end as the phrase "ongoing increases" was omitted from the most recent statement, which likely boosted the market mood.

The Dow Jones surged 1.45% or 465 points at 11:01 am ET, while the Nasdaq 100 skyrocketed 2.47% or 315 points a minute later, and the S&P 500 advanced by 1.65% at 11:02 am ET. The euro traded 0.33% higher against the dollar at 11:03 am ET, selling for 1.08912.

Baha Breaking News (BBN) / AY