Stocks Reverse 2-Day Slide in Early Trading

Dow was up more than 300
By Newser Editors,  Newser Staff
Posted Oct 12, 2018 9:17 AM CDT
Trader John Panin works on the floor of the New York Stock Exchange, Thursday, Oct. 11, 2018.   (AP Photo/Richard Drew)

(Newser) – The stock market pulled out of its two-day swoon in early trading Friday, reports MarketWatch. After dropping a total of nearly 1,400 points Wednesday and Thursday, the Dow was up more than 300 points (1.3%) in the first half-hour of trading on Friday. The S&P 500 (up 44 points, or 1.6%) and the Nasdaq (up 173 points, 2.3%) were similarly on the rise. The uptick came after markets in Asia and Europe also traded higher.

“Things do not move in straight lines and the weakness in the short term was a bit overdone,” a strategist at Nordea Asset Management tells the Wall Street Journal. “You probably saw a lot of positioning wash out and that is done now, so I don’t expect the same pace of selling that we saw in the beginning of the week to continue.” (Read more stock market stories.)

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