Stocks claw back some lost ground; GameStop swings wildly | National News
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 28, 2021. Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 28, 2021. Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 28, 2021. Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 28, 2021. Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October.
In this photo provided by the New York Stock Exchange, traders work on the floor, Wednesday, Jan. 27, 2021. Stocks were broadly lower in afternoon trading Wednesday, as investors focus on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic.
In this photo provided by the New York Stock Exchange, traders Michael Capolino, left, and John Panin, right, work on the floor, Wednesday, Jan. 27, 2021. Stocks were broadly lower in afternoon trading Wednesday, as investors focus on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic.
Pedestrians pass the New York Stock Exchange, Wednesday, Jan. 27, 2021, in New York. Stocks are climbing back in the early going on Wall Street Thursday, a day after the market took its biggest one-day loss since October.
In this photo provided by the New York Stock Exchange, a specialist works at his post on the trading floor, Thursday, Jan 28, 2021. Stocks were moving sharply higher Thursday morning, a day after sinking to their worst loss since October amid lingering worries about the long-term economic damage from the pandemic.
In this photo provided by the New York Stock Exchange, trader Robert Charmak, left, works on the floor, Thursday, Jan 28, 2021. Stocks were moving sharply higher Thursday morning, a day after sinking to their worst loss since October amid lingering worries about the long-term economic damage from the pandemic.
In this photo provided by the New York Stock Exchange, a specialist works at his post on the trading floor, Thursday, Jan 28, 2021. Stocks were moving sharply higher Thursday morning, a day after sinking to their worst loss since October amid lingering worries about the long-term economic damage from the pandemic.
In this photo provided by the New York Stock Exchange, trader John Santiago works on the floor, Thursday, Jan 28, 2021. Stocks were moving sharply higher Thursday morning, a day after sinking to their worst loss since October amid lingering worries about the long-term economic damage from the pandemic.
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.
