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• U.S. stocks roared back to end in positive territory on Thursday following steep losses for much of the session, as equities rebounded for a second day.
The Dow Jones Industrial Average .DJI rose 260.37 points, or 1.14 percent, to 23,138.82, the S&P 500 .SPX gained 21.13 points, or 0.86 percent, to 2,488.83 and the Nasdaq Composite .IXIC added 25.14 points, or 0.38 percent, to 6,579.49.
Even so, all three major indexes remain down more than 9 percent for December. The S&P 500 is on track for its biggest annual percentage drop since 2008.
• “The market is right now in a psychological frenzy, both good and bad,” said David Katz, chief investment officer at Matrix Asset Advisors in New York. “There’s fear of the market going down; there’s fear of missing the rebound.”
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• European markets erased early morning gains to close sharply lower Thursday afternoon, as market sentiment soured and a global sell-off in risk assets resumed.
The pan-European Euro Stoxx 600 index closed down 1.75 percent provisionally, after a slightly higher start with markets in the region reopening after the Christmas holidays. Germany's DAX led the declines, down nearly 2.4 percent, and the Italian FTSE MIB slid 1.8 percent, as those markets missed out on heavy losses seen Monday when both were shut.
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• Asia stocks inched higher on Friday after Wall Street ended volatile trade in the green, adding to the massive gains of the previous session although lingering investor jitters helped support safe-haven currencies such as the yen.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.15 percent. It has fallen almost 4 percent so far in December.
Australian stocks added 0.5 percent and South Korea’s KOSPI climbed 0.65 percent. Japan’s Nikkei bucked the trend and slipped 0.25 percent.
Reference: CNBC, Reuters
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