The Federal Reserve (Fed) met its rate hike forecast, strengthening investors' expectations that monetary policy will be eased at the next FOMC meeting.
Yesterday, Fed Chairman Jerome Powell confirmed an increase in interest rates by 75 basis points as expected all along.
It indirectly pushed US equities into a rally with the possibility of a slower monetary policy implementation by September becoming an investor bet.
Wall Street's Dow Jones Industrial Average rose 1.37% to 32,197.59, the S&P 500 gained 2.62% to 4,023.61 and the Nasdaq Composite added 4.06% to 12,032.42.
Another factor that may have contributed to the surge in US equities was the results of Microsoft Corp and Alphabet Inc's quarterly earnings reports, prompting strengthening in technology and growth stocks.
MSCI's gauge of worldwide shares rose 1.71% with the broader MSCI Asia-Pacific index of shares outside Japan gaining 0.48%.
Meanwhile, the greenback index moved weakly with the dollar down 0.625% while the Euro rose 0.79% at $1.0194 and the Japanese Yen strengthened 0.26% at $136.58.
The benchmark 10-year note rose 2/32 in price to yield 2.7794% from 2.787% and the 2-year note added 4/32 in price to yield 2.9797% at 3.043% while the 30-year bond fell 34/32 in price to yield 3.0628%.
Commodity shortfalls, the decision to cut Russian gas supplies to Germany and a 30% drop in oil exports have fueled the surge in prices.
US crude was up 2.4% at $97.26 and Brent oil was up 2.13% at $106.62 while spot gold added 1.0% at $1,734.14 an ounce.
