Stock Markets Recover after Sharp Losses

(From The Guardian)

European stock markets have rallied after sharp losses earlier in the week, with London’s leading share index gaining almost 2%.

The FTSE 100 index of the most valuable companies listed in London rose 138 points to 7,279 on Wednesday, still well below its all-time closing high of 7,779 on 12 January.

In New York, where the market rout began on Monday, the Dow Jones industrial average appeared on track for a second day of recovery, up about 381 points at its peak. The Dow also hit an all-time high last month of 26,616. But a late decline as US bond yields moved higher again saw a reversal by the close, and the Dow ended down 19.42 points at 24,893.35.

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