Wall Street bounces back after Trump says he won’t use force to take Greenland
By STAN CHOE, AP Business Writer
NEW YORK (AP) — The U.S. stock market is bouncing back from its worst day since October, though some signs of fear remain on Wall Street Wednesday about President Donald Trump’s desire to take Greenland.
The S&P 500 rallied 1.1% after Trump said in a speech before business and government leaders in Europe that he would not use force to take “the piece of ice.” The potential de-escalation in rhetoric around Greenland helped the index recover some of its 2.1% drop from the day before and pull closer to its all-time high set earlier this month.
The Dow Jones Industrial Average was up 477 points, or 1%, as of 11 a.m. Eastern time, and the Nasdaq composite was 1.3% higher.
Treasury yields also eased in the bond market, a day after jumping in a potential signal of worries about higher inflation in the long term. They got help from a calming of government bond yields in Japan, which had surged earlier because of concerns about how much the world’s third-largest economy may increase its debt. The value of the U.S. dollar also held steadier against the euro, Swiss franc and other currencies after sliding the day before.