US stocks rallied on Wednesday led by Nasdaq after the Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point and comments by Federal Reserve Chairman Jerome Powell reassured investors.

The stock market fell for the seventh straight day Friday, with the Dow Jones industrial average losing 357 points, or 1.4 percent, to close at 25,409. Only by staging a late rally in the final 15 minutes of trading was the Dow able to avert its third daily loss this week of more than 1,000 points.