US stocks in new rebound; Dow adds 3.9pc
NEW YORK: US stocks made another dramatic comeback after a stunning fall on Thursday, in another day of extreme volatility in markets around the world.
The Dow Jones Industrial Average battled back from Wednesday's 520-point loss with a 3.94 percent gain, adding 422.84 points to close at 11,142.78.
The broader S&P 500 rebounded 4.63 percent, up 51.87 points to 1,172.63, while the Nasdaq gained 111.63 points, or 4.69 percent, to 2,492.68.
It was the US markets' second recovery this week, after Tuesday's jump to overcome a big loss on Monday.
"This isn't a volatile equity market. It is an extremely volatile equity market," said Patrick O'Hare of Briefing.com.
"The massive swings are symptomatic of a market that is racked with uncertainty and where every rumor is treated as truth until the real truth can set one free from the rumor. The cycle soon begins anew, though, when the next rumor hits the wires."
Copyright AFP (Agence France-Presse), 2011
Comments
Comments are closed for this article.