Dow Jones rallies 900 points as Wall Street rebounds

US stock indices rebounded strongly during Friday’s trading after three consecutive losing sessions, supported by renewed demand for technology shares.

Wall Street was also lifted by gains in industrial stocks, with Caterpillar rising 5.47% to $715.41, and in financial stocks, with Goldman Sachs advancing 3.35% to $920.25.

The US stock market had been under pressure due to broad selling in technology shares, especially software companies, amid concerns over rising spending by artificial intelligence firms.

In trading, the Dow Jones Industrial Average jumped 1.9%, or 913 points, to 49,822 by 16:37 GMT. The broader S&P 500 rose 1.5%, or 101 points, to 6,900, while the Nasdaq Composite gained 1.6%, or 367 points, to 22,908.