Dismal earnings reports and renewed economic fears sent stocks flying around today.
AP: Wall Street has spent another session buffeted by volatility, closing mixed after investors wrestled with their fears about the economy but also looked for bargains after two days of selling.
Buying came in spurts and then often quickly evaporated as investors fretted that the economy is either in a recession or headed for one. Investors were gravitating toward big-name stocks seen as safer bets — tech and small-cap stocks ended the day with declines.
Wall Street is living up to predictions that trading will remain volatile as investors try to test whether the market has formed a bottom after this month’s huge declines.
The Dow Jones industrials are up 172 at the 8,691 level while the Nasdaq composite index is down 0.73 per cent. The Standard & Poor’s 500 index has a gain of 1.3 per cent.
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