US stock markets post historic turnaround after inflation figures

US stock markets post historic turnaround after inflation figures
Traders on the New York Stock Exchange

The US stock markets experienced a roller coaster ride on Thursday.

(Photo: AP)

Düsseldorf, Frankfurt The prospect of a sustained rate hike by the Fed only sent Wall Street down briefly on Thursday. After massive price losses in early trading, the US standard value index Dow Jones turned spectacularly positive and gained almost 1400 points compared to the daily low by the end of trading.

The stock market barometer finally ended trading 2.8 percent higher at 30,038 points, after it had given way in early trading by around two percent to a two-year low of 28,660 points – in between there are a proud 1378 points. Similarly, the broad-based S&P 500 and the tech-heavy Nasdaq advanced 2.6 percent to 3,669 points and 2.2 percent to 10,649 points.

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