US stocks ended higher on Wednesday after the Bank of England indicated it would buy government bonds to stabilize the pound.

Markets have fallen amid rising bond yields over the past week as central bankers around the world continued to hike interest rates.

shares of Amazon.com, Inc. AMZN and Microsoft Corporation MSFT traded higher on Wednesday. apple inc AAPL However, shares fell 1.3% after the company reportedly plans to ramp up production of its new iPhones this year.

That Nasdaq100 up 1.97% to close at 11,493.83 on Wednesday during the S&P500 up 1.97%. That Dow Jones jumped 549 points to 29,683.74 in the previous session.

All major sectors of the S&P 500 ended on a strong note, with energy stocks posting the biggest gains on Wednesday.

The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 1.6% to 32.09 points.

What is the CBOE Volatility Index?

The CBOE Volatility Index, popularly known as the VIX, is a measure of stock market volatility expectations based on call and put options of the S&P 500 index options.