Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates.

The Federal Reserve's closely followed overnight reverse-repo facility already has begun to reflect Wednesday's big interest-rate cut. Wall Street firms rushed to park extra cash overnight at the facility in the wake of the pandemic,

The Dow Jones industrial average set a record after a quiet Monday of trading, as Wall Street geared up for the most anticipated meeting of the Federal Reserve in years.The Dow rose 0.6% to surpass its previous all-time high set a few weeks ago.