NEW YORK (AP) — Wall Street got some relief after an encouraging report said inflation slowed last month by more than expected, and stocks scraped back some of their sharp losses from recent weeks.
The S&P 500 was 1% higher in early trading Wednesday, a day after it briefly fell more than 10% below its all-time high set last month.
The Dow Jones Industrial Average was up 251 points, and the Nasdaq composite was 1.8% higher.
Big Tech led the gains after being crushed by worries their prices had risen too high in recent years. Tesla, whose price had more than halved since mid-December, rose 7%
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