Stocks around the world jumped on Tuesday, and the Standard & Poor’s 500 had one of its best days of the year, as markets put a shaky couple of weeks farther behind them.
Shares of technology companies and retailers helped lead the way in the United States. And with markets in a less-nervous mood, prices for Treasury bonds, gold and other go-to investments for turbulent times fell.
The Standard & Poor’s 500 rose 0.99 percent to 2,452.51 for its fourth-biggest gain of the year. It’s taken just two days for the index to recoup half the loss it sustained in the two weeks since setting a record on Aug. 7. Those two weeks were a jolt for markets, as worries rose about political strife in Washington and abroad.
The Dow Jones industrial average rose 196.14 points to 21,899.89 on Tuesday, and the Nasdaq composite gained 1.36 percent, to end at 6,297.48.
It’s the latest example of investors seeing drops in the market as opportunities to buy, not reasons to unload stocks.
“We’ve seen these blips of volatility this year, and we have tended to calm down very quickly afterward,” said Jon Adams, senior investment strategist at BMO Global Asset Management. He pointed in part to increased optimism that Washington will avoid a default on the federal debt. — AP