HomeMarket NewsDow Jones recovers 1,100 points from the lows to end higher; Oil falls on Trump war remarks
Trump’s remarks triggered a fall in oil prices, which had surged as much as 27% on Monday. Brent now trades below the mark of $90 a barrel, nearly giving up everything that it gained on Monday towards an intraday high of $119.5 a barrel. US crude prices are also below the $90 per barrel mark.
Benchmark indices on Wall Street ended an extremely volatile session with gains after US President Donald Trump said that the war in Iran will “end very soon” triggering a drop in oil prices and a reversal in risk assets.
The Dow Jones ended with gains of 250 points, after having staged a 1,100-point recovery from the lows of the session. The S&P 500 and the Nasdaq also recovered 160 and 600 points from their respective lows of the day. At the lowest point, the Dow Jones was down over 900 points, while the S&P 500 and Nasdaq were down 1.5% each.
Chip stocks also contributed to the recovery on Wall Street with stocks like Nvidia gaining 2% and its peers such as AMD, Broadcom and Micron gaining between 4% to 5% each.
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