Stocks rally, heading off fourth week of decline

Stocks rally, heading off fourth week of decline

U.S. stock markets rallied Friday, making up earlier losses that had put them on course for a fourth straight week of declines.

The S&P 500 closed up 52 points, or 1.6 percent, and the Dow Jones Industrial Average was up 358 points, or 1.3 percent.

The revival was led by an upswing in tech stocks, which pushed the tech-heavy Nasdaq composite up 241 points, or 2.3 percent.

The recovery could calm nerves in a market that has seen an astonishing recovery from pandemic lows in March to breaking new records in August and the first days of September before retreating.

Fears of a bubble burst, alongside concerns that Washington will fail to provide additional stimulus two months after the last package, have fueled volatility in recent weeks that saw significant retreats from the market highs.