Stocks closed broadly higher on Wall Street Wednesday as the market snapped back from its recent tumble
Stocks closed broadly higher on Wall Street Wednesday as the market snapped back from its recent tumble.
Communications and other tech companies that suddenly lost their momentum late last week on worries their stocks soared too high all regained some ground. They helped give the S&P 500 index its best day in three months as it recouped a little more than a quarter of its losses from the prior three days.
The S&P 500 rose 67.12 points, or 2%, to 3,398.96.
The Dow Jones Industrial Average climbed 439.58 points, or 1.6%, to 27,940.47.
The Nasdaq composite added 293.87 points, or 2.7%, to 11,141.56.
The Russell 2000 index of smaller company stocks picked up 21.89 points, or 1.5%, to 1,526.48.
For the week:
The S&P 500 is down 28 points, or 0.8%.
The Dow is down 192.84 points, or 0.7%.
The Nasdaq is down 171.57 points, or 1.5%.
The Russell 2000 is down 8.82 points, or 0.6%.
For the year:
The S&P 500 is up 168.18 points, or 5.2%.
The Dow is down 597.97 points, or 2.1%.
The Nasdaq is up 2,168.96 points, or 24.2%.
The Russell 2000 is down 141.99 points, or 8.5%.