Continue Reading Below
After the Dow lost 530 points on Friday amid ongoing worries over China’s economy, Wall Street began the week with some wild swings. The Dow posted its largest-ever intraday loss of 1,089 points. Stocks mounted a partial recovery, but all three major indices were in correction territory at the closing bell. The CBOE VIX Index, a gauge of investor anxiety, touched its highest level in six-and-a-half years. NYSE composite volume of 6.55 billion shares was the highest volume day in nearly four years.
Meanwhile, oil fell to $38.69 a barrel in early trading, the lowest level for U.S. crude since February 2009.
Dow -588 points (3.58%) to 15871
S&P 500 -77 points (3.94%) to 1893
Nasdaq -179 points (3.82%) to 4526
It was shaping up to be a turnaround day for stocks. But the rally quickly fizzled in the final 30 minutes of trading, and Wall Street concluded its worst six-day losing streak since Aug. 8, 2011. The Dow, S&P 500 and Nasdaq each closed at session lows, with the blue-chip index trading within a 662-point range.
Dow -205 points (1.29%) to 15666
S&P 500 -25 points (1.34%) to 1867
Nasdaq -19 points (0.44%) to 4506
Frenzied buying in the last hour before the bell lifted all three major averages to their best single-day percentage gains since 2011. The late rally boosted the Dow by a whopping 620 points, the average’s third-largest point gain in history.
Dow +620 points (3.96%) to 16285
S&P 500 +72 points (3.91%) to 1940
Nasdaq +191 points (4.24%) to 4697
Another late, wild rally pushed the Dow and Nasdaq out of correction territory. The Dow was trending higher for most of the day before tumbling in the afternoon. Then, the big board swung more than 350 points higher in the final hour.
Oil also picked up steam, rising $3.96 to $42.56 a barrel. At 10.3%, it was oil’s sharpest increase in more than six years.
Dow +370 points (2.27%) to 16654
S&P 500 +47 points (2.43%) to 1987
Nasdaq +115 points (2.45%) to 4812
Wall Street ended a tumultuous week on a calmer note. The three major averages were mixed, but they all managed to post weekly gains. The Nasdaq led the way with a 2.6% advance. The Dow and S&P 500 rose 1.1% and 0.9%, respectively.
Nymex WTI crude rose to its highest level since Aug. 4, settling 6.3% higher at $45.22 a barrel. After dropping below $40 a barrel for the first time in six years, oil mounted a considerable comeback. Futures were up 11.8% for the week.
Dow -11.8 Points (0.1%) to 16643
S&P 500 +1.21 (0.1%) to 1988
Nasdaq +15.62 (0.3%) to 4828