Markets fell on Monday.
The S&P 500 fell 0.1 percent, the STOXX Europe 600 fell 0.4 percent and the Nikkei 225 plunged 3.0 percent.
A special counsel investigation into possible Russian collusion in US President Donald Trump's 2016 campaign has failed to find enough evidence of it.
"This cloud has now dissipated and this should allow markets to breathe a sigh of relief," said Jeff Kilburg, CEO of KKM Financial.
However, markets are not out of the woods.
"The positive effect on the market will be obscured, however, by the recent ugly economic news that made the Fed cave and inverted the yield curve," said John Rutledge, chief investment officer at Safanad.
The US 10-year Treasury yield fell on Monday to its lowest level since December 2017.
Strategists at the Commonwealth Bank of Australia said that "the inversion of the tens‑bills curve is an ominous sign" and while they did not predict a US recession, they concluded that "the Fed's tightening cycle is finished".
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