Press "Enter" to skip to content

Dow rebounds 1,100 points after worst day since the financial crisis

U.S. stocks bounced back Tuesday, a day after crude suffered a historic rout while the broader stock market recorded its worst day since the financial crisis. 

The Dow Jones industrial average jumped 1,167 points, or 4.9%, to close at 25,018.16, in a wild trading session that saw the blue-chip average swing 1,330 points from its high to its low. 

Tuesday’s moves came after the Dow plunged more than 2,000 points on Monday. A free fall in oil prices and mounting coronavirus cases rattled jittery investors a day earlier and pushed major indexes to the edge of a bear market, or a drop of 20% from a recent peak. 

The Standard & Poor’s 500 climbed 4.9% Tuesday to end at 2,882.23, after the broad index posted its worst one-day percentage drop since October 2008 on Monday. The index is off about 15% from its Feb. 19 record. The technology-heavy Nasdaq Composite climbed 4.9% to finish at 8,344.25. 

Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *