NEW YORK (AP) — U.S. stocks notched some more records as a rally spurred by hopes for lower U.S. interest rates wrapped around the world. The S&P 500 rose 0.3% Wednesday. The Dow Jones Industrial Average climbed 1%, while the Nasdaq added 0.1% to its record set the day before. Treasury yields eased, as expectations reached a virtual consensus that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in September. Stocks leaped by more than 1% in several Asian markets, while European indexes rose more modestly.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

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