Wall Street bounces after another volatile day, global markets stabilize

Wall Street bounces after another volatile day, global markets stabilize

China was the worst performer in Asia on Friday - on track for its worst day in almost two years - as losses deepened from declines seen earlier this week.

The Dow briefly sank 500 points in afternoon trading after surging more than 349 points earlier in the day.

In Asia, Japanese and Korean benchmarks recouped losses from the day before in early Wednesday trading, mirroring a similar "correction" rally on Wall Street.

Monday's decline of 1,175 points on the Dow was, by far, the biggest point decline in history.

At the White House, where Donald Trump has staked the measure of his performance on the economy and frequently hyped the gains of 6,000 points since he took office, his press secretary, Sarah Sanders, echoed the sentiment. Furthermore, the 10-year Treasury Yield was up by a total of 2.845% just before the market closes.

Even after Tuesday's gain, the S&P 500 is still down 6.2 percent from the recent record high it set on January 26.

The CBOE Volatility Index (VIX) spiked 28%."We see the stock correction as resulting from higher bond yields which have followed from increased estimates of Fed hikes, in turn driven by raised inflation expectations", said Paul Mortimer-Lee, Chief Market Economist at BNP Paribas. In this case, that was less than two weeks ago, when the Dow closed at a record high of 26,616.

On Thursday, the U.S. stock markets fell sharply, with the Dow Jones industrial average dropping 4% or 1,033 points, to 23,860.

Manufacturers showcase future electric transport solutions at Auto Expo
Maruti Suzuki made the global unveiling of its concept compact auto with SUV-like features named ConceptFutureS. India's automobile market is now the world's 5th largest, with almost 3.8 million vehicles sold per year.

The three main indexes rose by more than 1 percent on opening.

The Dow is up 24 percent over that time, the S&P 500 18 percent.

The broader Standard & Poor's 500 index was down 5 points, or 0.2 percent, at 2,643. The Nasdaq composite fell 1.7 percent.

The sharp moves this week have raised questions about how quickly investors would be willing to buy stocks at lower prices or stay cautious amid the threat of higher inflation.

Traders are still braced for more volatility as they try to figure out if the swings of the past week are the start of a deeper correction or just a temporary blip in the USA market's nine-year bull run.

USA stocks crept higher on Wednesday as volatility eased and buyers returned to a market that is recovering from a record fall for the Dow Jones Industrial Average earlier this week.

Schutte said that as central banks stop propping up the market, trading will probably be more volatile in the next few years. The index was down by a total of 0.9% to 7,051.98; tech giants such as Amazon, Facebook, and Alphabet were also down by at least 1.8% in the same session.

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