Wall Street staged an impressive comeback on Wednesday, ending six days of pain and defying fears of another afternoon collapse like those that extinguished rallies earlier in the week.
The benchmark S&P 500 posted its biggest one-day gain in almost four years as expectations that the Federal Reserve would raise rates as soon as next month fizzled after a leading policymaker said global market turmoil had made a September rate hike less likely.
Technology stocks led the S&P 3.9 per cent higher to close at 1,940.53, snapping a six-day losing streak that had been the index’s longest since July 2012. Wednesday’s gain was the biggest for the index since November 2011.
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