Bank of America BAC.N, JPMorgan Chase JPM.N and Wells Fargo WFC.N rose between 0.2% and 0.6%, tracking the benchmark 10-year yield US10YT=RR which climbed above 2.5%. Apple Inc AAPL.O fell 1.6% after a report that the company was planning to cut iPhone and AirPod output as rising inflation starts to weigh on demand for consumer electronics. "Those two factors got priced into the market and there was some level of certainty produced, particularly by the Fed meeting, that resulted in a pretty significant rally," said Jay Hatfield, chief investment officer at Infrastructure Capital Management in New York.