Dow soars 500 points as investors welcome surprising inflation data — but index down 3rd straight week
In midday trading, the Dow Jones Industrial Average jumped 769 points, or 1.8%, to 43,113. The S&P 500 climbed 1.7%, and the Nasdaq surged 1.8%. The Fed’s hawkish shift has put the Nasdaq on track to fall for the first time in five weeks, with the S&P 500 on pace for its worst week in nearly six. The Dow was on track for its third weekly fall.