Markets around the world rallied today after Federal Reserve Chair Jerome Powell hinted that the central bank could be done with its rate-hiking cycle. The S&P 500 closed up 2.3%, the Dow Jones gained over 700 points, and the Nasdaq surged nearly 3%. Investors responded positively to Powell’s comments during a press conference, where he acknowledged that inflationary pressures have started to ease and that further tightening may not be necessary. European and Asian indices followed suit, buoyed by the improved sentiment. Analysts predict that a pause in rate hikes could revive risk-on appetite, with technology and consumer discretionary sectors leading the charge.

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