GLOBAL MARKETS-Stocks bounce but inflation fears persist

The Dow Jones Industrial Average rose 483.53 points, or 1.43%, to 34,327.45, the S&P 500 gained 49.55 points, or 1.15%, to 4,357.09 and the Nasdaq Composite added 118.12 points, or 0.82%, to 14,566.70. In Europe, it was a different picture with the STOXX 600 index falling 0.4%.MSCI's gauge of stocks across the globe gained 0.45%.

NEW YORK: Global shares bounced in volatile trading on Friday with debate over the timing of future interest rate rises on both sides of the Atlantic intensified by euro zone inflation jumping to a 13-year high.

Earlier in the week, global shares suffered their worst rout since January with major U.S. and European indices feeling the heat. The S&P 500 had its worst month since the onset of the pandemic in September, reflecting concerns about COVID-19, inflation fears and budget wrangling in Washington.