Stocks rallied on Wall Street, including the banks most beaten down by the industry’s crisis.
The S&P 500 rose 1.3% Tuesday, its first back-to-back gain in two weeks, after Treasury Secretary Janet Yellen said the government could offer the banking industry more assistance if needed.
Markets around the world have pinballed this month on worries the banking system may be cracking under the pressure of the fastest set of hikes to interest rates in decades.
On Tuesday:
The S&P 500 rose 51.30 points, or 1.3%, to 4,002.87.
The Dow Jones Industrial Average rose 316.02 points, or 1%, to 32,560.60.
The Nasdaq composite rose 184.57 points, or 1.6%, to 11,860.11.
The Russell 2000 index of smaller companies rose 32.75 points, or 1.9%, to 1,777.74.
For the week:
The S&P 500 is up 86.23 points, or 2.2%.
The Dow is up 698.62 points, or 2.2%.
The Nasdaq is up 229.60 points, or 2%.
The Russell 2000 is up 51.85 points, or 3%
For the year:
The S&P 500 is up 163.37 points, or 4.3%.
The Dow is down 586.65 points, or 1.8%.
The Nasdaq is up 1,393.63 points, or 13.3%.
The Russell 2000 is up 16.49 points, or 0.9%.
Sourse: abcnews.go.com
