Stocks gain ground, clawing back a piece of last week’s drop
NEW YORK (AP) — Stocks rose broadly on Wall Street Tuesday, clawing back some of the ground they lost in their worst weekly drop since the beginning of the pandemic.
The S&P 500 was up 2.4%. The benchmark index is still down roughly 22% from the record high it set in January.
The tech-heavy Nasdaq was up 2.9% and the Dow Jones Industrial Average was up 1.7%.
Kellogg rose 2.1% after the maker of Frosted Flakes and Rice Krispies said it would split into three companies.
European markets were also higher and Asian markets closed mixed overnight. The yield on the 10-year Treasury rose to 3.30%.