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Post by bot on Apr 9, 2020 16:10:57 GMT -5
Dow, S&P retrace nearly half of COVID-19 related selloff
The Dow Jones Industrial Average surged 545 points, or 2.3%, in morning trading Thursday, which puts it on track to retrace nearly half of the COVID-19-related selloff. The Dow had dropped 10,959.49 points, or 37.1%, from its Feb. 12 record close of 29,551.42 to its March 23 closing low of 18,591.93, and has since bounced 5,387 points, or 29.0%, to retrace 49.1% of the decline. With the S&P 500's 2.2% rally on Thursday, the index has now bounced 25.6% off its March 23 closing low of 2,237.40, and has retraced 49.9% of the decline from its Feb. 19 record close of 3,386.15. Meanwhile, the Nasdaq Composite was rallying 1.6% to extend its gain off its March 23 low of 6,860.67 to 19.8%, and to retrace 46.0% of the decline from its Feb. 19 record close of 9,817.18.
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