Stocks Rise as Fed Signals End of Rate Hikes

Stocks rallied after the Federal Reserve signaled that its rate hiking campaign may be nearing an end amid concerns about stability in the global banking system. The S&P 500 was up 1.5%, the Dow Jones Industrial Average higher by 1.2%, and the technology-heavy Nasdaq Composite led the way, rising as much as 2.1%. The 10-year Treasury yield also fell after the Fed's latest economic forecasts suggested rate hikes are closer to ending than previously expected. Additionally, several big tickers related to the crypto industry were on the move after news since Wednesday's close, including Coinbase and Block.