Bank of Japan Raises Rates to 1%, Nikkei Briefly Tops 70,000

The Bank of Japan raised its key interest rate to a three-decade high of 1%, citing inflation. Following the decision, Japan's Nikkei stock index briefly cleared the 70,000 mark for the first time and closed at a record 69,404. The yen remained flat after the rate hike, which had been widely expected. Meanwhile, SpaceX-related enthusiasm lifted technology stocks.