Dow Surges 900 Points in Volatile Trading

U.S. stocks

turned sharply higher Thursday, a head-spinning reversal after major indexes spent much of the morning deep in negative territory.

Stocks tumbled in early trading after new data showed that inflation remains persistently high, strengthening expectations for continued large interest-rate increases from the Federal Reserve. At their lows, the Nasdaq Composite had fallen more than 3%, the S&P 500 had dropped more than 2%, and the Dow Jones Industrial Average had declined nearly 2%, according to Dow Jones Market Data.

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