Financial Markets Wall Street

The U.S. stock market rebounded after oil prices stopped spiking and reports gave encouraging updates on the economy. The S&P 500 rose 0.8% Wednesday and erased much of its loss since the war with Iran began. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite climbed 1.3%. The strength followed a scary start to the day, when South Korea’s Kospi stock index plunged 12.1% for its worst loss in history. Uncertainty about the war has sent prices in financial markets careening this week, with most taking their cues from what the price of oil is doing. Oil prices moderated through the day.

Shares have opened sharply higher in Asia after a rebound on Wall Street. South Korea's Kospi took back the 12% it had shed a day earlier. In Tokyo, the Nikkei 225 jumped 4.3%. U.S. stocks rebounded after oil prices stopped spiking and reports gave encouraging updates on the American economy. The S&P 500 rose 0.8% Wednesday and erased much of its loss since the war with Iran began. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite climbed 1.3%. Uncertainty about the war in the Middle East has rattled financial markets this week, with most taking their cues from what the price of oil is doing. Oil prices moderated throughout Wednesday.