Morning Report 17 Mar 22: US shares climb and bonds weaken after US hikes rates for the first time in 3 years

US sharemarkets climbed on Wednesday after US Federal Reserve Chair Jerome Powell struck a more positive tone on the prospects for US economic growth, despite policy tightening. The S&P 500 bank index rose by 3.7%. And megacap tech shares lifted with Tesla (+4.8%), Amazon (+3.9%) and Apple (+2.9%) all higher. The Dow Jones index closed higher by 519 points or 1.6% after swinging in a 576 point range. The S&P 500 index lifted by 2.2% and the Nasdaq index rose by 488 points or 3.8%.  

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