08/06/2024

Wall Street Opens Mostly Higher

Some calm returns after the market’s worse loss in almost 2 years

Some calm is returning to Wall Street in early trading, and Japan's stock market soared to bounce back from its worst loss since 1987. The S&P 500 was 0.6 percent higher early Tuesday and on track to break a scary three-day losing streak. The benchmark index had tumbled a bit more than 6 percent after several weaker-than-expected reports, including a sharp slowdown in hiring by U.S. companies, raised worries the Federal Reserve had pressed the brakes too hard for too long on the U.S. economy. The Dow Jones Industrial Average was up 48 points and the Nasdaq composite was up 0.8 percent.

Wall Street appears poised to return to less chaotic trading Tuesday after a huge sell-off to start the week.

Japan's benchmark Nikkei 225 index soared more than 10 percent, regaining almost all of the Monday losses that triggered a cascade of tumbling markets from Europe to North America.

Please select this link to read the complete article from The Associated Press.