The stock market roared back on Thursday, seeking to recover from a significant sell-off. The tech-heavy Nasdaq Composite rose 3.1%, the S&P 500 gained 2.5%, and the Dow Jones Industrial Average gained 1.9%. However, since the beginning of the year, the market swings have left the broader stock market sharply lower, with the S&P down roughly 10% year-to-date and the Nasdaq 100 slipping around 20% from its all-time high hit last November.
Concerns over a forthcoming 50-basis point rate hike by the Fed in May, surging inflation, intensifying geopolitical tensions, and extended COVID-19 lockdowns in China are major factors behind the market’s recent choppiness.
