New York, NY, United States (VOA) – Stocks surged on Wall Street Wednesday, with the Dow Jones Industrial Average vaulting more than 1,000 points, its biggest one-day point-gain ever.
Investors recouped all their losses from Wall Street’s Christmas Eve plunge as stocks rallied across all sectors, giving markets their best single-day percentage gain in 10 years.
Gains in technology companies, retailers, health care and internet stocks drove the broad rally, which gave the benchmark S&P 500 index some breathing room after it slid Monday to just shy of what Wall Street calls a bear market — a 20 percent fall from an index’s peak.
Energy stocks also rebounded as the price of U.S. crude oil notched its biggest one-day gain in more than two years.
Trading volume was lighter than usual following the Christmas holiday. Markets in Europe, Hong Kong and Australia were closed.
“Today simply can only be really chalked up to a reflex rally after having been oversold,” said Sam Stovall, chief investment strategist for CFRA. “The real question is do we have follow-through for the rest of this week.”
The Dow Jones gained 5 percent, or 1,086 points, to 22,878. The benchmark S&P 500 gained 5 percent, or 116 points, to 2,467. Nasdaq rose 5.8 percent, or 361 points, to 6,554.
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