Wall Street Finds Steady Footing Following Its Worst Day In Weeks

US stock indexes showed signs of steadying following their recent downturn, with the S&P 500 up 0.2% in morning trading, recouping some of its losses from the previous day.

The Dow Jones Industrial Average gained 64 points, or 0.2%, by 10:10 a.m. Eastern time, the Nasdaq composite edged 0.1% higher, while the S&P 500 rose 0.2%. I Photo: New York Stock Exchange Facebook

The Dow Jones Industrial Average gained 64 points, or 0.2%, by 10:10 a.m. Eastern time, while the Nasdaq composite edged 0.1% higher, according to Stan Choe's report for the Associated Press (AP).

In European markets, indexes exhibited mixed performances with modest movements.

Although a report indicated a cooling of inflation in Europe beyond expectations for March, analysts suggest this might not suffice to prompt the European Central Bank to make its first interest rate cut.

Meanwhile, Asian markets experienced more pronounced declines earlier in the day, following the losses seen on Wall Street the day before.

In Seoul, indices fell by 1.7%, by 1% in Tokyo, and by 1.2% in Hong Kong, as reported by Yuri Kageyama and Matt Ott for AP. 

The rise in oil prices has also contributed to inflationary pressures. Benchmark US crude oil climbed by 0.9% to $85.78 a barrel, marking a nearly 20% gain for the year so far. Similarly, Brent crude, the international benchmark, increased by a similar margin and has risen by more than 16% in 2024.

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