Everything from iron ore miners to luxury handbag sellers got a boost Tuesday from China's stimulus, showing the wide-ranging influence a pickup in the world's second-largest economy would have on stocks globally.

Chinese central bank stimulus boosts property market and stocks. Shanghai Composite up 3.5%, Hang Seng climbs 3.7%.

The S&P 500 and Dow ended at record highs on Tuesday, shrugging off weak consumer confidence data, as mining stocks surged following China's announcement of a sweeping stimulus package. The indexes initially trimmed gains after a report from the Conference Board revealed an unexpected decline in U.