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U.S. stocks surges more than 10 percent

U.S. stocks surged more than 10 percent

on Tuesday, capping a worldwide rally in equity markets, as investors snapped up shares that had plunged during the worst October on record, and the yen posted its biggest decline against the dollar in more than 30 years.

Dubai stock exchange

Dubai stock exchange

The late-day U.S. surge also pulled up equity markets in Brazil and Mexico by double-digit percentage gains, and extended a plunge in benchmark U.S. government debt prices. The Dow industrials and the S&P 500 had their second-biggest point gains after the record rally two weeks ago.

A Japanese newspaper report saying the Bank of Japan is considering an interest rate cut sparked the dollar-denominated Nikkei 225 futures index NKc1 to jump 14 percent and hit an upward limit threshold, and helped ignite the U.S. rally.

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