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Wall Street rose for a second straight session on Wednesday to record territory as investors shook off geopolitical concerns and bought back into tech stocks. The Dow Jones rose 1.03% to a record close, as did the S&P500 ending the day up 0.71% also to a record close, and the tech-heavy Nasdaq added 0.6% at the closing bell.
The driver of the rally in the US was the release of the Fed’s latest meeting minutes whereby majority of participants favoured reducing interest rates by more than 50 basis points.
Over in Europe overnight, markets closed higher ahead of key rate decisions out later this week and on easing oil prices. The STOXX 600 rose 0.66%, Germany’s DAX added 0.99%, the French CAC rose 0.52% and, in the UK, the FTSE100 ended the day up 0.65%.Across the Asia region on Wednesday it was a mixed session with China’s CSI index snapping a 10-day winning streak with a tumble of 7.05%, while Hong Kong’s Hang Seng fell 1.7%, but Japan’s Nikkei rose 0.87% and South Korea’s Kospi Index was closed for a holiday.
The Australian market closed 0.13% higher on Wednesday as a strong tech rally offset sharp declines among materials and energy stocks.
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