Major Wall Street indices jumped 2% to push equity markets higher while the Japanese Yen fell against the dollar to its lowest level since October 1998.
Wall Street equities ended a bad selling session a few weeks ago just after returning from a holiday when investors were seen buying megacap stocks of growth and energy.
Kingsview Investment Management portfolio manager Paul Nolte commented that the stock will bounce back from 5 sessions of decline although interest rates and oil spikes continue to be a concern.
That series, the Dow Jones Industrial average index rose 641.47 points (2.15%) at 30,530.25, the S&P 500 hit 89.95 points (2.45%) at 3,764.79 and the Nasdaq Composite added 270.95 points (2.51%) at 11,069.30.
The pan-European STOXX 600 index rose 0.35% and the worldwide MSCI stock gauge rose 1.91%.
Meanwhile, US Treasury yields also rallied with risk-off sentiment putting pressure on the market after a break as the 10-year benchmark yield rose 3.303% from last week's close of 3.239%.
Speaking on sentiment, the Chairman of the Federal Reserve (Fed) will testify before the Senate Banking Committee on Wednesday for an indication of a rate hike.
Goldman Sachs analysts think there will be a 30% chance of the U.S. economy experiencing a recession next year compared to the previous 15% forecast.
Currency movements saw the Japanese Yen fall to a recent 24-year low as Prime Minister Fumio Kishida reaffirmed his ultra-loose monetary policy.
It indirectly saw the dollar index at 104.41 after being supported overall by expectations of a Fed rate hike.
As for commodities, Brent crude futures were up 52 cents (0.5%) at $ 114.65 a barrel and WTI crude was up $ 1.09 (1%) at $ 110.65.
Gold saw a 0.3% decline at $ 1,832.77 per ounce and Bitcoin (BTC) was up 1.56% at $ 20,876.57.
