Stocks on Wall Street soared to their first gain in more than a week as some calm returns to financial markets around the world.
The S&P 500 jumped 2% Wednesday for its best day in seven weeks. That snapped Wall Street’s longest losing streak since the coronavirus crash in February 2020.
Bond markets globally also relaxed after the Bank of England moved forcefully to get a budding financial crisis there under control. Treasury yields fell sharply, easing some of the pressure that has sent stocks down more than 20% on Wall Street this year.
The S&P 500 rose 71.75 points, or 2%, to 3,719.04.
The Dow Jones Industrial Average rose 548.75 points, or 1.9%, to 29,683.74.
The Nasdaq rose 222.13 points, or 2.1%, to 11,051.64.
The Russell 2000 index of smaller companies rose 52.73 points, or 3.2%, to 1,715.24.
For the week:
The S&P 500 is up 25.81 points, or 0.7%.
The Dow is up 93.33 points, or 0.3%.
The Nasdaq is up 183.71 points, or 1.7%.
The Russell 2000 is up 35.65 points, or 2.1%.
For the year:
The S&P 500 is down 1,047.14 points, or 22%.
The Dow is down 6,654.56 points, or 18.3%.
The Nasdaq is down 4,593.33 points, or 29.4%.
The Russell 2000 is down 530.07 points, or 23.6%.