Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates

The Fed is set to cut interest rates for the first time since COVID, which will shake global markets, currencies, and commodities. A stronger dollar has crushed weaker currencies like the Japanese yen and Turkish lira, while central banks scramble to control inflation.

Wall Street's gains followed rallies for markets across Europe and Asia after the Federal Reserve delivered the first cut to interest rates in more than four years late on Wednesday.

Markets on Wall Street were positioned to open at record highs Thursday after the Federal Reserve issued a bigger-than-usual interest rate cut intended to fortify a cooling labor market and prevent a

Markets in Europe and Asia shot higher on Thursday after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates. U.S. futures were higher after a lackluster response on Wall Street to the Fed's move the day before.

Wall Street is roaring toward records as a delayed reaction of jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 1.6% higher

The S&P 500 Index (SPX) fell back after Wednesday’s Federal Reserve half-percentage-point rate cut, unable to hold new highs. This is not welcome action in a market that is already overbought. The bulls now look ready to take another shot at new U.

The momentous move by the Fed helps financial markets in two big ways. It eases the brakes off the economy, which has been slowing under the weight of higher rates, and it gives a boost to prices for all kinds of investments.