US stocks clawed back losses to end a wild trading day higher after Federal Reserve chairman Jay Powell signalled he had no immediate plans to change monetary policy despite the rising growth and inflation expectations that have been roiling markets.
The benchmark S&P 500 gained 0.1 per cent, reversing losses that had pushed the index 1.8 per cent lower earlier on Tuesday.
The technology-focused Nasdaq Composite went on an even wilder ride, sliding as much as 3.9 per cent in early trading before recovering to end down just 0.5 per cent.
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