US markets boost gains to 4pc

NEW YORK: US equity markets boosted gains past the 4 percent mark in afternoon trade Thursday, reversing much of the previous day's losses on the back of rebounds in Europe and traders deciding US stocks were oversold.

At 1900 GMT, the Dow Jones Industrial Average was up 467.95 points (4.37 percent) to 11,187.89, after losing 520 points on Wednesday.

The broader S&P 500 gained 55.60 points (4.96 percent) to 1,176.36, while the tech-heavy Nasdaq surged 116.61 points, or 4.90 percent, to 2,497.66.

"The notion that stocks have suffered from overly harsh selling has helped drive a few relief rallies, as has been the case today," said Briefing.com.

But it was the fourth straight session in which the broad-based S&P 500 has swung more than two percent, underscoring how volatile the markets remain.

Copyright AFP (Agence France-Presse), 2011