Hot Inflation Torches Bears in a Stock Reversal for the Ages

A stock reversal for the ages occurred: A disorienting day on Wall Street was brought on by an almost uniform decline followed by an all-out rally.

The S&P 500 erased a 2.4% loss and finished massively 2.6% up, marking the first day since July that it has done so. 

 The second-to-second data on share changes provided the finest illustration of the first rush to sell, followed by a rush to purchase.

 Before jumping beyond 1,900, the so-called Tick index, which contrasts the number of stocks increasing over those dropping at any one time, reached minus 1,900.

According to Bloomberg statistics going back to 1990, the market has never previously recorded such severe readings in both directions in a single day.

From the day's low, the Dow Jones Industrial Average climbed by over 1,400 points.


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