US stocks rebounded late on Monday after concerns about new lockdowns in China and fears of a slowdown in economic growth pushed investors to search for safety earlier in the day.
Wall Street’s benchmark S&P 500 index closed 0.6 per cent higher, having dropped as much as 1.7 per cent earlier in the day. The tech-heavy Nasdaq Composite rose 1.3 per cent as investors treated recent declines as a buying opportunity ahead of a busy week of earnings reports.
Last Friday marked the S&P’s second-worst trading day of the year, and both indexes are still down more than 2 per cent over the past week.
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