Dow Jumps 200 Points, Rebounding From its Worst Day Since October

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closes in 5 hrs. 17 mins.Jan 28, 2020 11:43 NY Time

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Jan 28, 2020 11:43 NY TimeKitco 10AM Silver Fix

Silver17.49-0.58
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(CNBC, Tues. Jan. 28th, 2020) – Stocks rose on Tuesday following the market’s biggest sell-off in more than three months as investors grapple with lingering fears over a possible coronavirus outbreak.

The Dow Jones Industrial Average jumped 217 points, or 0.8%. The S&P 500 climbed 1% while the Nasdaq Compositeadvanced 1.3%.

Apple and Goldman Sachs led the Dow’s gains, rising more than 1% each. The S&P 500 was led higher by the tech and financials sectors, both of which surged more than 1%.

The Dow and S&P 500 had their biggest drop since October on Monday. The Dow plunged more than 450 points while the S&P 500 logged in its first pullback of at least 1% in 74 sessions. The Nasdaq also had its biggest one-day decline since August amid fears the spreading coronavirus could hurt the global economy.

“The wall of worry is back under construction with concerns over the coronavirus and the pace of global growth and valuation,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “Stocks are rallying following yesterday’s sell-off, however, the unknowns remain unknown.”

“At a minimum, the volatility we’re experiencing now is likely to be more of the norm than the exception over the next few weeks,” Sandven said.

Posted by :

Jack Dempsey, President

401 Gold Consultants LLC

jdemp2003@gmail.com


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