NEW YORK – The New York Stock Exchange’s worst week in more than two years ended Friday with a session that saw the benchmark Dow Jones index fluctuate more than 1,000 points before rebounding in the last hour to close higher.
The Dow gained 330.44 points, or 1.38 percent, to 24.190.90 points, while the S&P 500 advanced 38.55 points, or 1.49 percent, to 2.619.55.
Volatility was the story of the day, with the Dow Jones climbing in the first 30 minutes only to drop by 500 points at one stage.
Even with the late surge, both the Dow and the S&P lost 5.2 percent for the week, their worst performance since January 2016.
The market’s roller-coaster ride began last Friday, when the Dow Jones lost 666 points as better-than-expected job figures stoked fears that the US Federal Reserve would accelerate interest rate hikes to prevent inflation.
What followed Monday was a record one day point loss of 1,175 points, or 4.62 percent.
The index plunged another 1,032 points on Thursday.