Stocks on Wall Street rebounded after two consecutive days of declines on Wednesday as sectors poised to benefit from a recovery in the world’s largest economy led markets higher.
The small-cap Russell 2000 index, sensitive to changes in the broader economy, outperformed its larger Wall Street peers, rising more than 2 per cent in New York. The technology-heavy Nasdaq Composite climbed 1.2 per cent while the blue-chip S&P 500 rose 0.9 per cent, with cyclical sectors such as basic materials, energy and financials among its leading sectors.
It marked a recovery from earlier in the day where concerns over weaker tech company earnings and global coronavirus cases had initially knocked stock markets.
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