The Dow stages 835-point U-turn, leading to the sharpest reversal from an intraday slump in 2 months
The Dow Jones Industrial Average on Thursday closed sharply higher, reversing a sharp drop that served as a gut-check to bullish investors amid the COVID-19 pandemic. The Dow ended up 377 points, or 1.6%, at 23,625, following a skid that saw it lose as many as 458 points at its intraday nadir at 22,789.62. Gains were driven by an advance in American Express Co. and UnitedHealth Group Inc., which helped to lead the charge. The reversal for the index marked its biggest comeback since March 19, according to Dow Jones Market Data. The S&P 500 index , meanwhile, rose 1.2% to end at 2,853, powered by a gain in the financials sector , up 2.6% and a rally in consumer discretionary shares . The technology laden Nasdaq Composite Index finished up 0.9% , or 80.55 points, at around 8,944–well off its lows at 8,705.25.
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