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

(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.

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“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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