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After Strikes, Stocks Turn Around

World markets had fallen after missiles hit bases
By Newser Editors and Wire Services
Posted Jan 8, 2020 3:35 PM CST
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Visitors to the New York Stock Exchange pause to take photos last week.   (AP Photo/Mary Altaffer, File)

(Newser) – Stocks snapped higher on Wall Street and oil prices sank following signs that the US and Iran were backing away from the edge of war. The rally capped a whirlwind of reversals, the AP reports. Markets around the world initially reeled early Wednesday after Iran fired missiles at two military bases in Iraq that house US troops, retaliation for a US drone strike that killed an Iranian general. The S&P 500 rose 15 points, or 0.5%, to 3,253. The Dow Jones Industrial Average rose 161 points, or 0.6%, to 28,745. The Nasdaq added 60 points, or 0.7%, to 9,129, a record. Bond prices fell, sending yields higher. (Read more stock market stories.)

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