Stocks jump, oil dips in Wall Street’s latest dizzying swing
NEW YORK (AP) — Stocks are jumping and oil prices are easing Wednesday in the latest dizzying swings to hit Wall Street.
The S&P 500 was 2.6% higher at midday, following a four-day losing streak that pulled it 13% below its record set early this year.
Such big swings have been jerking markets around in recent weeks as investors grope to guess how much economic damage Russia’s invasion of Ukraine will do. The swings have struck not only day-to-day but also hour-to-hour. The chaotic movements are likely to continue with uncertainty so high.
Treasury yields climbed as a hike in interest rates by the Federal Reserve nears.