US shares rally at close, Dow up 600 pts

Monday, 23. May 2022 22:01

Shares on the major stock market indexes in the United States ended the session with sharp gains on Monday, recovering from earlier losses, as the Dow Jones Industrial Average flew over 600 points.

Ukraine was front and center yet again, as both the Federal Reserve and the International Monetary Fund underlined that the severity of the crisis caused by the armed conflict in the country is still to be determined. After a number of western companies shut down their units in Russia, Starbucks Corp. confirmed it will also exit the Eurasian country's market.

The Dow Jones rose 1.98%, or 618 points, at the close with JPMorgan Chase & Co surging 6.19%. The Nasdaq 100 ended the session 1.68% higher as Ross Stores soared 9.57%. At the same time, the S&P 500 climbed 1.86%. The euro advanced by 1.17% against the dollar at 3:59 pm ET, selling for 1.06874.

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Author:
Baha Breaking News (BBN) / BU