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
After Strikes, Stocks Turn Around
Visitors to the New York Stock Exchange pause to take photos last week.   (AP Photo/Mary Altaffer, File)

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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