Wall Street staged its biggest comeback in years as stocks roared back from steep morning losses caused by a worse-than-expected report on inflation.
The S&P 500 jumped 2.6 percent Thursday, a stunning reversal after earlier being down as much as 2.4 percent and touching its lowest level in nearly two years. The Dow and Nasdaq also rose sharply. Other markets around the world likewise veered sharply from losses to gains.
Analysts said some data points buried deep within the inflation report may be offering hope that inflation is on its way to easing. Others said technical reasons could also be helping support markets.
On Thursday:
- The S&P 500 rose 92.88 points, or 2.6 percent, to 3,669.91.
- The Dow Jones Industrial Average rose 827.87 points, or 2.8 percent, to 30,038.72.
- The Nasdaq rose 232.05 points, or 2.2 percent, to 10,649.15.
- The Russell 2000 index of smaller companies rose 40.65 point, or 2.4 percent, to 1,728.41.
- The S&P 500 is up 30.25 points, or 0.8 percent.
- The Dow is up 741.93 points, or 2.5 percent.
- The Nasdaq is down 3.25 points, or less than 0.1 percent.
- The Russell 2000 is up 26.26 points, or 1.5 percent.
- The S&P 500 is down 1,096.27 points, or 23 percent.
- The Dow is down 6,299.58 points, or 17.3 percent.
- The Nasdaq is down 4,995.82 points, or 31.9 percent.
- The Russell 2000 is down 516.90 points, or 23 percent.
