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Stock Market Rebounds After 3-Day Slump: Nasdaq and S&P 500 Rally
In a dramatic turnaround, US stocks surged today, recovering from a three-day market rout that had wiped out substantial gains for 2024. Here are the key highlights:
Nasdaq Leads the Charge: The tech-heavy Nasdaq Composite (^) soared by 2.2%, marking an impressive rebound. This surge was a welcome relief after the recent sell-off.
S&P 500 Bounces Back: The benchmark S&P 500 (^) followed suit, gaining around 2%. This rally helped mitigate the losses from the past three sessions and pushed year-to-date gains to approximately 11%.
Dow Jones Industrial Average Jumps: The Dow Jones Industrial Average (^) also participated in the recovery, rising by 1.4% (approximately 600 points).
Market Concerns and the Fed: The recent volatility was triggered by fresh worries about the US economy and its labor market. Investors are closely watching the Federal Reserve, with expectations of a rate cut at the next meeting.
Individual Stocks Rebound: Notable companies like Nvidia, Tesla, Microsoft, and Meta (formerly Facebook) saw gains today, contributing to the overall market recovery (^).
Cryptocurrencies Rise: Despite the recent crypto sell-off, Bitcoin (BTC-USD) climbed back above $55,000, up 7% (^).
Global Markets Stabilize: Japan’s Nikkei index also closed up over 10%, signaling a steadying of global markets (^).
As investors keep a close eye on the Fed’s actions, the coming days will provide crucial signals for the market’s next moves.
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