NEW YORK, March 22 (Xinhua) -- U.S. stocks rose on Tuesday as Wall Street assessed the hawkish remarks from Federal Reserve Chair Jerome Powell.

       The Dow Jones Industrial Average rose 254.47 points, or 0.74 percent, to 34,807.46. The S&P 500 increased 50.43 points, or 1.13 percent, to 4,511.61. The Nasdaq Composite Index jumped 270.36 points, or 1.95 percent, to 14,108.82.

       Ten of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and communication services up 2.45 percent and 2.01 percent, respectively, leading the gainers. Energy slipped 0.66 percent, the lone declining group.

       U.S.-listed Chinese companies traded higher with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

       On Monday, Wall Street's three major indexes closed lower after Powell vowed tough action on inflation.

       Powell said the U.S. central bank would not shy away from raising rates to restrictive levels if needed to control inflation.

       "The comments confirmed that the Fed is currently in inflation-fighting mode and markets responded accordingly," Mark Haefele, chief investment officer at UBS Global Wealth Management, said Tuesday in a note.

       "While the increasingly hawkish tone of the Fed is unequivocally bad for bonds, the outlook for equities is more uncertain," he added.

       Last week, the Fed raised its benchmark interest rate for the first time since 2018 as it seeks to tame the highest U.S. inflation in four decades.