Stock Market Steadies After Rout

This article from Wall Street Jorunal produced by Frances Yoon and Anna Hirtenstein

U.S. stocks rose Wednesday, a day after surging energy prices and rising bond yields triggered the biggest rout on Wall Street in months.

The benchmark S&P 500 gained 0.6%, stabilizing after it closed down 2% Tuesday in its worst one-day performance since May. The Dow Jones Industrial Average added 0.5%, while the Nasdaq Composite advanced 0.9% as technology stocks regained some ground.

The yield on the benchmark 10-year Treasury note steadied after six straight days of rises, dropping to 1.510% Wednesday, from 1.534% Tuesday. It had closed at the highest level since June.

Stocks hit a rough patch in recent days after the Federal Reserve signaled it would start to reduce its bond-buying as soon as November—and possibly begin to raise interest rates next year. Higher prices for oil and other commodities also helped push bond yields up as investors prepared for higher inflation.

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Source: https://www.wsj.com/articles/global-stock-markets-dow-update-09-29-2021-11632882757?mod=hp_lead_pos1

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