Wall Street rises strongly after US interest rate hike

The three major indices of US stocks closed today with a significant increase, as the Standard & Poor's 500 index recorded the largest daily gain in nearly a year, after the Federal Reserve's decision to raise interest rates.

The Federal Reserve raised interest rates by half a percentage point in a range of 0.75% to 1% in a unanimous decision and the US central bank said it would start reducing its $9 trillion in bond purchases next month in an effort to bring down inflation further. The Dow Jones Industrial Average rose 932.27 points, or 2.81%, to 34,061.06 points, the Standard & Poor's 500 Index rose 124.69 points, or 2.99%, to 4,300.17 points, and the Nasdaq Composite Index rose 401.10 points, or 3.19%, to 12,964.86 points.