April 21, 2024

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Stocks claw back some lost ground; GameStop swings wildly | National News

3 min read

Stocks closed broadly higher on Wall Street Thursday, helping the market recoup some of its losses a day after its biggest pullback in nearly three months.

Investors continued to closely watch the wild swings in GameStop, AMC and several other stocks which have become targets for hordes of online investors who have sent them skyrocketing in recent days, taking on big hedge funds who have bet they will fall.

Several of those stocks fell sharply after Robinhood and other trading platforms restricted trading in them, causing an outcry among customers. The chaotic trading action is drawing calls in Washington and elsewhere for regulatory action to curb the speculative frenzy.

The S&P 500 rose 36.61 points, or 1%, to 3,787.38, lifting the benchmark index out of the red for the year. It had lost 2.6% a day earlier, its biggest drop since October.

The Dow Jones industrial average gained 300.19 points, or 1%, to 30,603.36. The Nasdaq composite added 66.56 points, or 0.5%, to 13,337.16. The Russel 2000 index of smaller companies slipped 2.09 points, or 0.1%, to 2,106.61.

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