NEW YORK - US SHARES swung higher at the opening on Friday, staging a modest rebound after two days of vicious selling that pushed the main indexes to multi-year lows.
The Dow Jones Industrial Average jumped 131.10 points (1.74 per cent) to 7,683.39 in the first exchanges after two sessions in which the blue-chip index lost over 800 points.
The Nasdaq composite climbed 25.62 points (1.95 per cent) to 1,341.74 and the Standard & Poor's 500 index added 13.72 points (1.82 per cent) to 766.16.
The market action came after the Dow and Nasdaq fell to their lowest levels since 2003 and the S&P tumbled to an 11-year low amid fears of a deepening global economic crisis, prompting a frenzied rush into US Treasury bonds.
'It should be expected that there would be some sort of rebound effort, especially after the panic buying that was seen yesterday in the Treasury market,' said Mr Patrick O'Hare at Briefing.com.
'We will get through this period. We always do. How long it takes is the great unknown, so there isn't an urgency yet to buy stocks.' -- AFP
