US stocks open higher, Dow Jones jumps over 400 points

US stock indices open higher on Monday, after the market absorbed the Federal Reserve's statement of last week.

Wall Street was weighed down by the the Fed's statement last week, in which it forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.

The 0-year US Treasury yield fell below 2% today for the first time since last February, and the the 10-year bond hit a 4-month low.

As for stocks, Dow Jones rose 1.5% or 490 points to 34,780 as of 14:29 GMT, Nasdaq rose 0.3% or 42 points to 14,072, and S&P 500 rose 1% or 44 points to 4,210.