August 28, 2020

Dow erases 2020 losses as US stocks charge upwards

New York (AFP) – Wall Street flexed its muscles on Friday, with the Dow erasing its losses for the year and the S&P and Nasdaq again hitting records as investors shrugged off the ongoing coronavirus crisis, while markets elsewhere saw more moderate trading.Much of the positive sentiment can be attributed to the Federal Reserve, which made clear that US interest rates will stay ultra-low as long as needed in a major policy shift announced Thursday.That further buoyed stocks that had already climbed following their March Covid-19 downturn, after the Fed offered trillions of dollars in liquidity …


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