Wall Street stocks recovered on Thursday, after being pushed lower for three consecutive sessions by fears that central banks will withdraw crisis-era support following a surge in inflation.
The S&P 500 index rose 1.2 per cent in New York, led by financial and industrial stocks sensitive to the trajectory of the economy. The gains followed a 2.1 per cent fall on Wednesday, the index’s worst one-day performance since February. The technology focused Nasdaq Composite rose 0.7 per cent, having neared correction territory on Wednesday when it closed almost 8 per cent below its record high in April.
US government debt rallied, with the yield on the benchmark 10-year Treasury sliding 0.04 percentage points to 1.65 per cent.
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