US Stocks Rebound in Volatile Start to September Trading
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Spencer Platt/Getty Images(NEW YORK) — Stocks rebounded Wednesday morning despite continued volatility from global financial markets.
Shortly after the opening bell, the Dow Jones Industrial Average increased about 1.2 percent to about 16,226, while the S&P 500 had a partial comeback, up about 1.1 percent. The NASDAQ composite moved higher about 1.3 percent.
Earlier Wednesday, the Shanghai Composite Index closed 0.2 percent lower at about 3,160, the last day of trading before the market closes for a two-day holiday celebrating the 70th anniversary of Japan’s defeat in World War II.
A report in China on Tuesday said manufacturing in that country fell to a three-year low last month, moving U.S. stocks lower. American investors fear that an economic slowdown in China will affect business activity at home.
Meanwhile, a possible increase in U.S. interest rates keeps other investors jittery. At the closing bell on Tuesday in the U.S., the Dow Jones Industrial Average, NASDAQ and S&P 500 all ended the day in the red, with the Dow briefly dropping more than 500 points and closing down about 2.8 percent at the end of trading in New York.
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