Stocks surged Tuesday morning on Wall Street, erasing some of the heavy losses of a day earlier, after China cut interest rates to try to boost the world’s second-largest economy.
Stocks were deep in the red again on Wednesday, although they did rebound from a mid day swoon. At the closing bell the Dow was down 173 points at 16,141. Earlier in the day it had dipped below 16,000 for the first time since February.
The red flags were everywhere, among them weak corporate results, the looming end of stimulus from the Federal Reserve and tensions between the West and Russia.
There was a major milestone on Wall Street Thursday as stocks set new records.
Stocks have been rising sharply this year as the U.S. economy improves, companies report bigger profits and the Federal Reserve keeps up its easy-money policies.
The Dow Jones industrial average crossed 15,000 for the first time, and the Standard and Poor’s 500 index, a broader market measure, rose above 1,600.
The Dow closed at an all-time high Tuesday, beating the previous record it set in October 2007, before the financial crisis and the Great Recession.
A late afternoon rally pushed the stock market higher for only the second day this month.
The Dow Jones industrial average fell 170.89 points, or 1.5 percent, to close at 11,149.82. It had been up 85 points shortly after the opening bell.
The Dow Jones industrial average at one point was down more than 500 points. It’s now down 436 at 10,973.
Investors hoping for relief from last week’s volatility in the stock market found it Monday.
Even a survey showing Americans are dismayed about the economy didn’t stop the gains on Wall Street today.
It’s understandable if people are getting dizzy watching the Dow, considering Wednesday’s shocking 519 point plunge. That was just the latest go round on the Dow’s recent wild ride as the index closed up 423 points on Thursday.
It was yet another rough day on Wall Street Wednesday, a day after the Dow Jones Industrial Average posted its biggest gain since early 2009.
The Dow picked up steam late in the trading day Tuesday and closed up nearly 430 points.