Wall Street stumbled on Tuesday as dire consumer confidence data dampened investor optimism and fueled worries over recession and the looming earnings season.
Wall Street’s main indexes closed higher on Thursday, fueled by strong performance from defensive and tech shares that outweighed declines for economically sensitive groups as worries persisted about a potential recession.
Wall Street’s major indexes jumped over 2% on Tuesday as investors scooped up shares of mega cap growth and energy companies after the stock market swooned last week on worries over a global economic downturn.
Wall Street plunged on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after Fed’s largest rate hike since 1994.