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US equities rebounded on Thursday after a sell-off triggered by the Federal Reserve's first rate hike in three years, with the S&P 500 climbing 1.1% and the Nasdaq Composite jumping 1.7%.
The recovery was driven by easing bond yields and lower oil prices, which helped investors process the central bank's hawkish stance on inflation.
The Dow Jones Industrial Average rose 0.6% as traders assessed the implications of the Fed's 25 basis point increase.
Federal Reserve Chairman Kevin Warsh's rhetoric, which projected one additional rate hike this year, was cited by analysts as a factor in restoring confidence in the Fed's ability to contain prices.
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