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Dow gains more than 600 points as wild stock market volatility continues

All three major indexes are in green and then some: The Dow (INDU) is up nearly 700 points, or 2%, in late afternoon trading, while the broader S&P 500 (SPX) is up 1.6%. The tech-heavy Nasdaq Composite (COMP) is lagging behind slightly, up “only” 0.7%.
On top of that, Federal Reserve Chairman Jerome Powell dropped a bombshell Tuesday, announcing that the central bank might end its pandemic era stimulus program faster than expected. For the stock market, which prefers easy money policies, that wasn’t good news.

The three major indexes are still in the red for the week, so investors have a little further to go to recoup all the losses they may have incurred during the recent selloffs.

That could be one explanation for Thursday’s upswing: investors are picking stocks up at cheaper prices.

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