Wall St. Roars Back
After a painful week that saw the Dow drop briefly below the 13,000 mark, stocks came back with a vengeance on Tuesday. Chinese ADSs, banks, emerging markets, technology–you name it–last week it was down. The bulls finally broke through, shooting the Dow up 2.5%, over 300 points for the day. Among the big winners from the tech sector was Google, which finished up 4.5%, or over $28 per share for the day. Apple also had a strong run, closing at $170.40, up $16.20, or 10.54%.
Brazil’s ETF, EWZ was one of the emerging market funds that had taken a beating during last week’s sell-off, but it too charged back, ending the day up over 8%. Likewise, China’s index fund, FXI, suffered a steep decline. The fund set a new high of 219 in early October, but saw those gains and more lost, when the shares dropped down into the mid-160s at the lowest point in the sell-off. On Tuesday, FXI roared back, posting a $12.61 gain, up a healthy 7.44%.
Thestreet.com has the day’s wrap up here.
