Markets rally as Fed pledges to keep rates low for two years

The S&P 500 closed 4.74% up at 1,172.53, while the Dow Jones ended the day 3.98% higher at 11,239.77. The yield on the 10-year US treasury plunged to an all-time record low overnight after the Fed's statement, down to 2.0346%, a move of more than 28 basis points. The initial drop in yield was the sharpest since the week of the collapse of Lehman Brothers. Safe haven currency the Swiss franc also hit a fresh high. Meanwhile, in Asia, Japan's Nikkei closed 1.05% up at 8,038.74 while the Hang Seng climbed 2.8%. The FTSE 100 leapt nearly 2% in early trading, climbing 1.85% or 97 poi...