All three of the major US indices have soared after the People’s Bank of China lowered the country’s interest rates earlier today. The S&P 500 is 2% up on Monday’s closing figure, trading at 1,929, while the Dow Jones has risen 2% and the Nasdaq has rebounded 2.6%. All three benchmark indices had suffered during yesterday’s ‘Black Monday’ sell-off, as global markets tumbled on growing fears over Chinese volatility. That followed earlier dramatic falls last Thursday and Friday.
[Source: Investmentweek.co.uk - August 25, 2015 - Alice Rigby]