NEW YORK (Pakistan Point News / Sputnik - 02nd February, 2021) Wall Street rebounded with tech stocks leading the way after a rout last week triggered by fund losses caused by retail investors acting against such firms.
The Dow Jones Industrial Average, the broadest gauge of the New York Stock Exchange, gained 0.8 percent to close the day at 30,212. The Dow lost 3.3 percent last and 2 percent for all of January.
The S&P 500, a barometer for the top 500 US stocks, settled up 1.6 percent at 3,773. It lost 3.3 percent last week and 1 percent for January.
The technology-laden Nasdaq index, which counts on the performance of industry giants such as Facebook, Apple, Amazon, Netflix and Google, jumped 2.6 percent to finish at 13,403. The Nasdaq tumbled 3.5 percent last week, but still managed to finish January about 2 percent high.
