09/27/2022

Wall Street Rebounds

Sterling steadies after its tumble

U.S. stocks opened higher and sterling bounced from this week's record lows against the dollar on Tuesday as investors took stock after recent sharp market moves.

The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite added between 1 and 2 percent after Wall Street fell deeper into a bear market in the previous session. Benchmark 10-year Treasury yields ticked up from Monday's 12-year high and the dollar eased from 20-year highs on a basket of currencies.

Markets are wary about the pace of U.S. interest rate rises to calm inflation, a concern which has hurt risky assets and boosted the U.S. currency.

Please select this link to read the complete article from Reuters.