Stocks Rally as Oil Prices Fall, But Hawkish Fed Stance Raises Volatility Concerns

Global stocks rebounded on Thursday after a recent slide, while the global bond rout took a breather. Investors digested the US Federal Reserve's interest rate hike and cheered lower oil prices.

The Fed's decision to increase interest rates was seen as a hawkish turn, but market pricing suggests an anticipated hiking cycle of around 100 basis points in total. This would be the shallowest in history.

The Bank of England kept interest rates on hold but warned they might have to go up if the Iran war drags on. The US Securities and Exchange Commission unveiled its exemption for blockchain-based or 'tokenized' stocks, allowing companies to offer trading in digital assets more deeply into traditional markets.