U.S. markets bounce up after worst week in 2 years

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Wall Street rebounded Friday with the Dow Jones Industrial Average rising more than 300 points, but U.S. markets still booked their worst week in more than 2 years amid signs of higher inflation and interest rates.

The Dow Jones ended up 330 points (1.4 percent) after a volatile trading day during which the index swung more than 1,000 points, at one point sinking as much as 630 points. All markets ended in the green after a rally during the last few hours.

The S&P 500 finished up 38 points (1.49 percent), the NASDAQ Composite went up 97 points (1.4 percent), and the Russell 2000 index of smaller-company stocks went up 14 points (1 percent).

Both the Dow and the S&P 500 entered correction territory on Thursday after the indexes fell more than 10 percent from all-time highs in January. The Dow also experienced the two largest point drops in its history, falling 1,175 points on Monday and 1,032 points on Thursday.

The turmoil on Wall Street, which sparked similar sell-offs around the world, began on February 2 after a better-than-expected jobs report sparked fears of higher inflation. The turmoil worsened as the yield on the benchmark 10-year Treasury note hit a 4-year high, but experts say economic fundamentals remain strong.

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