American investors and financial analysts were in for a wild ride Thursday, with the Dow Jones plunging more than 600 points by midday but recovering by the late afternoon; ending the day up over 250 points.
“The Dow Jones Industrial Average ended the day up 258 points, or 1.1 percent. The S&P 500 closed 0.85 percent higher while the Nasdaq Composite climbed 0.4 percent. At its lows of the day, the Dow had fallen 611 points. The S&P 500 and Nasdaq fell as much as 2.8 percent and 3.3 percent, respectively,” writes CNBC.
“You went from $200 million to sell [at the close] which was less than expected. That started the early rally. Now there’s over $2 billion to buy,” said one analyst. “They thought we’re going to be huge sellers, now they’re huge buyers.”
The strong gains come just one day after the market set a historic record; soaring over 1,000 points in a single session.
Read the full report at CNBC.