Wall Street’s major indexes have jumped by over 2 per cent, despite fears of a looming recession
The rise was triggered by investors scooping up shares in megacap growth and energy companies, Microsoft, Apple and Tesla all rising sharply.
All 11 of the major S&P 500 sectors gained, after the index fell over 20 per cent from its January all-time high, earlier this month.
The Nasdaq added 2.5 per cent and the Dow Jones rose 2.2 per cent, with oil and gas stocks among the best performers.
Moving around the world, Australian shares are also likely to continue their recovery, as investors shift concern away from a global economic downturn.
Bitcoin has also rebounded to just above U.S. $20,000, but still remains 70 per cent below its record high in November.
As America’s Federal Reserve continues to take aggressive measures to tackle inflation, investors are assessing just far stocks can fall.
