NEW YORK (AP) — Stocks rebounded on Wall Street Monday and clawed back most of their sharp loss from last week.
The S&P 500 snapped 1.4% higher as the initial jolt passed from the Federal Reserve’s reminder that it will eventually offer less help for markets.
Oil producers, banks and other companies that were hit particularly hard last week made the biggest gains.
High-growth tech stocks lagged. Shorter-term yields fell, and longer-term yields rose in another reversal from last week’s initial reaction to the Fed’s saying it may raise rates twice by late 2023.