Fed Decision Boosts Global Markets as Stocks and Bonds Rally

The Federal Reserve's decision to leave U.S. interest rates unchanged has boosted global markets, causing stocks and bonds to rally on Thursday.

The Fed also slowed the pace of future hikes, weakening the dollar and lifting commodity prices. European markets followed Wall Street and Asia's lead, with Britain's FTSE 100 climbing 0.6 percent and Germany's DAX and France's CAC both rising a full 1 percent.

Oil and commodities firms gained the most as oil prices rose, while the weakened dollar made it easier for currencies like the euro, pound, and Swiss franc to climb. The yen also reached a four-week high against the greenback.