Dow Jones gains more than 600 points as the stock market continues to be highly volatile
All three major indexes are green and then some: daw(UNDUE) up more than 650 points, or 1.9%, in the early afternoon, while the broader Standard & Poor’s 500(SPX) It rose 1.5%. heavy technology Nasdaq Composite(COMP) It lags slightly at “only” 0.7%.
Moreover, Federal Reserve Chairman Jerome Powell threw a bomb Tuesday, announcing that the central bank may end its pandemic-era stimulus program faster than expected. For the stock market, which prefers easy money policies, that was not good news.
The three major indices are still in the red for this week, so investors have more to go to offset all the losses they may have incurred during the recent sell-off.
This may be one explanation for Thursday’s rally: Investors are picking stocks at cheaper rates.