The Strategist

U.S. stock indices show sharp increase

03/10/2022 - 09:23

The U.S. stock market rose sharply on Wednesday, breaking a four-day decline amid the conflict in Ukraine.

The Dow Jones Industrial Average rose 2.00% to 3,3286.25 points, the NASDAQ high-tech index rose 3.59% to 1,3255.55 points and the S&P 500 broad market index rose 2.57% to 4,277.88 points.

The indices posted their biggest gains since June 2020. Analysts suggest that bidders were buoyed by a 12-13% drop in global oil prices, which occurred despite the U.S. refusal to import Russian energy, and partly dampened inflation expectations.

Over the previous four trading days, the DJIA lost 3.7%, the NASDAQ lost 6.9% and the S&P 500 lost 4.9%. Analysts predict continued heightened volatility amid Russia's ongoing operation in Ukraine.