Stocks bounce back as Fed rate-hike fears ease

September 12, 2016 9:23 PM

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U.S. stocks rose sharply on Monday, recouping a chunk of the largest losses in two months, with investors heartened by a Federal Reserve official retaining a dovish tone in speaking about her take on the central bank’s monetary policy.

After Friday’s 2.5 percent slide, the S&P 500 (SPX) gained 31 points, or 1.5 percent, at 2,159. The Dow Jones Industrial Average (I: DJI) jumped 240 points, or 1.3 percent, to 18,325. The Nasdaq Composite (COMP) added 86 points, or 1.7 percent, to 5,212.

Also read: Fed's Kaplan says he has no problem with being 'restrictive'

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