The Dow Jones Industrial Average fell 22.45 points, or 0.09%, to 26, 007.07, the S&P 500 gained 2.21 points, or 0.08%, to 2, 883.98 and the Nasdaq Composite added 29.56 points, or 0.38%, to 7, 862.83. (Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS)
NEW YORK: The S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession.
Increasing worries over a global economic downturn and bets the Federal Reserve will have to pick up its pace of interest rate cuts pushed Treasury yields sharply lower early, with 10-year yields touching their lowest since October 2016.
Limited time offer:
Just RM5 per month.
