US stock market rebounds after horror plunge yesterday



Associated Press

Stocks closed sharply higher on Wall Street after another turbulent day of steep ups and downs.

The NZX was closed yesterday, as Wall Street experienced its biggest one-day fall in history.
Source: Breakfast

The Dow Jones industrial average gained 567 points, or 2.3 per cent, recouping nearly half of the 1,175-point plunge it took the day before.

The index of 30 big-name US companies ended up at 24,912.

On its way there, the Dow took several harrowing turns during the day, opening with a plunge of 567 points — coincidentally, the exact same amount it wound up gaining at the closing bell.

The broader Standard & Poor's 500 index rose 46 points, or 1.7 per cent, to 2,695. The Nasdaq climbed 148, or 2.1 per cent, to 7,115.

Big drops Friday and yesterday erased the Dow's gains for the year. By today, it was once again slightly higher for 2018.

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