Stocks, Treasury Yields Climb After Day-Long Dives: Markets Wrap
- Policy makers cut rates in New Zealand, India and Thailand
- Kiwi, Aussie dollars slump; 30-year Treasury yield near record
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U.S. equities and benchmark Treasury yields mounted an impressive comeback late in the day, reversing sharp drops as investors turned more positive on the outlook for global growth amid central-bank moves to ease monetary policy.
The S&P 500 Index eked out a modest gain after tumbling as much as 2%, with CVS Health Corp.’s biggest jump in almost eight years and an advance for the biggest tech companies supporting the gauge. Yields on 10-year Treasuries edged higher after an earlier plunge. Currency markets were volatile after rate cuts in New Zealand, India and Thailand.