Wall Street has had its best day since May 2020 as the market clawed back more of the ground it lost in weeks of rocky trading.
US stocks rise in extended rally, clawing back more ground
The Dow Jones Industrial Average climbed more than 800 points and the S&P 500 had its best day in more than two years on Tuesday as the market clawed back more of the ground it lost in a miserable several weeks on Wall Street.
The S&P 500 rose 3.1%, its best day since May 2020, as all but five of the stocks in the index notched gains. The benchmark index has been rallying since hitting its lowest point of the year on Friday to close out a September slump.
Twitter surged 22.2% after Elon Musk said he would go ahead with his $44 billion acquisition of the social media company, abandoning months of efforts to get out of the deal.
The Dow rose 2.8% and the Nasdaq composite climbed 3.3%. Small company stocks also made solid gains, lifting the Russell 2000 3.9% higher. European and Asian markets also rose broadly.