S&P 500 Roars Back From Six-Day Slide; Bonds Surge: Markets Wrap
- Fed officials have restated their hawkish stance all week
- Oil rose as US inventories declined; the dollar dropped
This article is for subscribers only.
US stocks and Treasuries rallied on Wednesday after the Bank of England’s decision to stage a market intervention boosted UK bonds and tentatively calmed markets.
The S&P 500 snapped a six-day rout. It rose the most since early last month, and for the first time since the Federal Reserve boosted rates and dialed up its hawkishness a week ago. The index jumped more than 2% later in the session, bolstered by gains in Amazon.com Inc.’s shares after the company’s annual device event on Wednesday showed it pushing further into wellness, security and the auto industry.