Investors sent US stocks down by nearly a third from February into late March, before efforts to slow the spread of the coronavirus threw the economy into a recession.
The Dow Jones Industrial Average climbed 407 points, or 1.7 percent, to 23,944, driven largely by a 12.9 percent surge for Boeing.
US President Donald Trump’s Europe travel ban announced sent all three major US stock indexes into a tailspin, slamming the book on the longest-running US bull market on record.
World stock markets had capitulated on what has become known as "Black Monday", with the Dow Jones Index in the US losing more than 2,000 points, and the crash even triggering the emergency break in early trade amid panic selling.
Rising fears of a pandemic, which US health authorities have warned is likely, had already wiped more than $3.6 trillion from global stock markets by Wednesday's close.
Aramco initially raised a $25.6 billion, which was itself a record level, in its December IPO by selling 3 billion shares at 32 riyals ($8.53) a share.
But most markets gave back some gains after the World Bank said it was downgrading its forecast for the global economy in light of trade conflicts and other strains.
Sending Wall Street into a slide, China announced higher tariffs on $60 billion worth of American goods in retaliation for President Donald Trump's latest penalties on Chinese products. Earlier, stocks also fell in Europe and Asia.
Stocks fell a day after Washington accused Beijing of backtracking on key commitments, marking a reverse in hopes which saw markets rally to new highs in recent days.
Dollar snaps losing streak as new import taxes kick in on goods worth $16 billion on either side of the Beijing and Washington DC dispute. Australian dollar fumbles for a second straight day as the country's PM faces leadership crisis.
The Italian stock market is down 1.8 percent with former IMF official Carlo Cottarelli expected to present his cabinet list to President Sergio Mattarella, causing uncertainty among investors.
Tuesday's wild trading session saw the Dow swing more than 1,100 points from its low to its high and ended with the benchmark S&P 500 tallying its best day since just before President Donald Trump's November 2016 election.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2022 TRT World.
Like
Follow