Stocks Rally as Treasury Yields Fall on Fed Rate Comments; Yen Surges

U.S. equities rose sharply, with the Dow gaining 600 points, as Treasury yields retreated following rate remarks from Fed Governor Waller. Software stocks and Big Tech led gains in the S&P 500 and Nasdaq, while easing yields eased pressure across sectors.

Why it matters: Separately, the yen jumped against the dollar amid the same global rate-sensitivity backdrop.