Wall Street in the US reached all-time closing highs on Monday as investor optimism was stoked by prospects of a speedier economic recovery from the global health crisis, it was driven by increased stimulus and an accelerated vaccine rollout as well.

World Business Watch: Wall Street sets record closing highs on stimulus hopes

Amid coronavirus outbreak, US stocks and bond yields tumbled on Tuesday, after the Federal Reserve lowered its benchmark interest rate by 0.5 percentage point, to a target range of 1.00% to 1.25%. The yield on the 10-year Treasury note briefly dropped below 1%, a record low.

US Fed rates cut by 0.5% to a target range of 1% - 1.25%

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World Business Watch: Wall Street sets record closing highs on stimulus hopes

US Fed rates cut by 0.5% to a target range of 1% - 1.25%