The S&P 500 and Nasdaq scored their biggest daily percentage gains since February 2022, and the Dow Jones rose on Wednesday as chip stocks rallied and the Federal Reserve kept U.S. interest rates unchanged while signalling possible easing in September if inflation cools.

Nasdaq jumped more than 2.6 per cent, the Dow Jones Industrial Average up by 0.24 per cent, and the S&P 500 gained more than one and a half per cent.

Major US stocks traded mixed yesterday with a slide in the S&P 500, dragged by declines in mega-cap tech stocks. The Nasdaq Composite tumbled 1.28 per cent. However, the Dow Jones Industrial Average climbed 0.5 per cent.