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.