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US stock markets rally after slide | US stock markets rally after slide |
(about 5 hours later) | |
US stock markets rallied late on Thursday to end in positive territory, continuing their roller coaster ride towards the end of the year. | |
In Asia, most markets were following suit except Japan's Nikkei 225, which was down 0.5% in Friday morning trade. | |
Markets have been volatile as global, political and economic uncertainty continues to haunt investors. | |
The Dow Jones - which fell by more than 500 points or 1.8% earlier on Thursday - finished the trading day 1.1% up. | |
The S&P 500 and tech-heavy Nasdaq also rallied by the end of the Thursday's trading day. | |
The S&P 500 had fallen by 48 points or 2% at one point, while the Nasdaq also sank by more than 2% or 135.4 points. | The S&P 500 had fallen by 48 points or 2% at one point, while the Nasdaq also sank by more than 2% or 135.4 points. |
The earlier sell-off was sparked by weak US consumer confidence data for December. However, analysts had cautioned that volatile share price movements were exacerbated by thin holiday trading. | The earlier sell-off was sparked by weak US consumer confidence data for December. However, analysts had cautioned that volatile share price movements were exacerbated by thin holiday trading. |
Earlier, European markets slumped in their first post-Christmas trading session. | Earlier, European markets slumped in their first post-Christmas trading session. |
London's FTSE 100 slid as the day progressed, ending 1.5% down, with UK shares at their lowest in over two years. | London's FTSE 100 slid as the day progressed, ending 1.5% down, with UK shares at their lowest in over two years. |
Frankfurt's Dax was 2.8% lower, while the Cac 40 in Paris suffered a smaller fall, down just 1.1%. | Frankfurt's Dax was 2.8% lower, while the Cac 40 in Paris suffered a smaller fall, down just 1.1%. |
Concerns about US-China trade tensions also resurfaced, with reports saying US President Donald Trump is considering an executive order banning the use of Chinese technology. | Concerns about US-China trade tensions also resurfaced, with reports saying US President Donald Trump is considering an executive order banning the use of Chinese technology. |
The US, Australia, Japan and New Zealand have restricted use of ZTE and Huawei equipment in 5G mobile networks, and the UK is now considering doing the same. | The US, Australia, Japan and New Zealand have restricted use of ZTE and Huawei equipment in 5G mobile networks, and the UK is now considering doing the same. |
On 20 December, the US indicted two Chinese men accused of hacking into computer networks of Western companies and government agencies, and accused Beijing of cyber-spying. | On 20 December, the US indicted two Chinese men accused of hacking into computer networks of Western companies and government agencies, and accused Beijing of cyber-spying. |