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Dow turns 567-point loss into 567-point gain as stocks rally

Dow turns 567-point loss into 567-point gain as stocks rally

Dow turns 567-point loss into 567-point gain as stocks rally

Thursday's declines mean the Dow and S&P 500 have now fallen by more than 10% from the record highs set in January, a threshold that analysts call a correction. This makes it the second time the traditional market would be falling within four days by more than 1,000 points. The S&P was also down after the volatile market creates a lot of uncertainties for the indices. It was up as much as 349 in early trading.

Japan's benchmark Nikkei 225 index surged as soon as trading began as investors sought bargains, finishing morning trading up 3.1 percent at 22,270.56.

Bond prices fell slightly.

On Monday, S&P 500 biggest losing stock was Wells Fargo.

The blue-chip stock average's recent drubbing, which follows its record 1,175-point drop Monday, has been fueled by fears that a long period of low interest rates and tame inflation that have boosted the economy and fueled a rapid rise in stock prices may be nearing an end as economic conditions improve.

Investors are still weighing whether the sharp swings this week are the start of a deeper correction or just a temporary bump in the nine-year bull market, spurred by concerns over rising interest rates and bond yields. But the Dow is up 24 percent in the past 12 months the S&P 500 has gained 18 percent.

The benchmark 10-year USA note yield traded at 2.85 percent Thursday, continuing its rise to multi-year highs.

Wall Street stocks mostly fell early today despite a batch of strong earnings from Twitter and others as markets struggled to shrug off the volatility of the last week.

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Australia's S&P/ASX 200 was up 1.0 percent at 5,889.60.

The continuing sell-off in bonds is, according to insiders on Wall Street, spooking the market.

Volatility returned to markets on Thursday as United States indices finished the day sharply lower, plunging them into correction territory.

At Thursday's opening bell, it bounced from positive to negative then headed down sharply.

Furthermore, the Nasdaq Composite was also trading lower in the market as most of the tech stocks plunges on lackluster quarter performance reports.

The Standard & Poor's 500 index gave up 77 points, or 2.9 percent, to 2,603.

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. On the Nasdaq, 1,670 issues rose and 1,099 fell.

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