Wall Street stocks rallied sharply at the end of a wild week across global markets on Friday, as investors weighed the prospect of rapid interest rate rises by the US Federal Reserve and an upbeat earnings report from Apple.
The benchmark US S&P 500 index rose 2.4 per cent as a late-day advance gathered momentum, reversing a drop of as much as 0.8 per cent earlier in the day. The rise was enough to put the index in the green for the week, ending a three-week run of losses.
The Nasdaq Composite index advanced 3 per cent, enough to eke out a marginal gain for the week.
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