World News | Stocks Bounce Higher on Wall Street a Day After Big Rout

New York, Jun 12 (AP) Stocks are opening higher on Wall Street a day after major indexes fell more than 5 per cent for their biggest drops since mid-March.

The S&P 500 rose 2.6 per cent in the first few minutes of trading Friday, but is still on track for a weekly loss following three weeks of solid gains.

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Small-company stocks and bond yields rose, both signs that pessimism about the economy's future growth was easing.

The steep drops Thursday came after weeks of market experts warning that a red-hot comeback for the market since late March has been overdone. European markets also rose, but Asian markets ended broadly lower. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)