NEW YORK (dpa-AFX) – After the holiday on Monday, the US stock market started the shortened week with a recovery. The Dow Jones Industrial recaptured the round mark of 30,000 points in early trading and most recently rose by 1.7 percent to 30,394 points. The market-wide S&P 500
gained 2.3 percent to 3758 points. The tech-heavy Nasdaq 100 increased by 2.6 percent to 11,564 points.
Concerns about the economy due to high inflation and the resulting need for a quick turnaround in interest rates pushed the leading US index down almost 5 percent last week to its lowest level since the end of 2020. The week before, the loss had been almost as high. For many market participants, however, the recent sell-off seems to have gone too far, as evidenced by the rises on some Asian and European stock exchanges. The mood is supported by statements by President Joe Biden that a recession in the USA is not “inevitable”./edh/mis
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