Final-hour rally yanks Wall Street from maw of bear market

NEW YORK (AP) — Wall Street rumbled to the sting of a bear market Friday after one other drop for shares briefly despatched the S&P 500 greater than 20% beneath its peak set early this 12 months.

The S&P 500 was down as a lot as 2.3% for the day earlier than a livid final hour of shopping for despatched it to a tiny acquire.

It completed 18.7% beneath its report. The tumultuous buying and selling capped a seventh straight shedding week, its longest such streak since 2001.

Rising rates of interest, excessive inflation, the conflict in Ukraine, and a slowdown in China’s financial system are all punishing shares and elevating fears a few potential U.S. recession.