Wall Street romped to records Thursday as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 jumped 1.7% for one of its best days of the year and topped its last all-time high set in July.

Asian markets built Friday on the latest global rally after a jumbo US interest rate cut, while the yen edged up as focus turns to the Bank of Japan policy decision later in the day.

Wall Street jumps to record highs as global markets cheer Fed rate cut.