Dow gains 436 points as markets rally behind Federal Reserve interest rate hike

July 27 (UPI) — U.S. markets rallied Wednesday as the Federal Reserve again hiked interest rates by .75% and Chairman Jerome Powell sought to ease recession concerns.

The Dow Jones Industrial Average gained 436.05 points, or 1.37%, the S&P 500 climbed 2.62% and the Nasdaq Composite jumped 4.06%, with markets reaching their highs after Powell shared the latest news from the central bank’s two-day policy meeting.


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