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Economy

Big Rebound for US Stocks

NEW YORK — U.S. stocks opened sharply higher Aug. 27 after slumping for six straight days amid concern that growth in China was slowing more quickly than previously thought.

The Dow Jones industrial average rose 370 points, or 2.4 percent, to 16,041 as of 9:37 a.m. Eastern. The Standard & Poor’s 500 index gained 41.09 points, or 2.1 percent, to 1,906.61. The Nasdaq composite climbed 101 points, or 2.3 percent, to 4,607.

Treasury bonds fell, pushing up the yield on the benchmark 10-year note to 2.16 percent.

Cameron international, a maker of equipment for the oil industry, jumped 45 percent after Schlumberger said it was buying the company in a cash-and-stock deal.

 

RELATED

WASHINGTON — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve's meeting Wednesday and whether the Fed will clarify just how fast it plans to tighten credit and potentially slow the economy.

Top Stories

Society

ATHENS – A major snow storm that had been predicted for days still caught residents in Greece offguard and the New Democracy government scrambling for answers as to why motorists were stuck for hours on major roads.

Politics

US Congress represenatives Gus Bilirakis of Florida and Nicole Malliotakis of New York – both Republicans – assailed President Joe Biden's administration for no longer supporting the EastMed pipeline project by Greece, Cyprus and Israel.

Associations

WASHINGTON HEIGHTS, NY – In the presence of distinguished guests, the vasilopita was cut by the Federation of Greek American Educators in the community hall at St Spyridon Greek Orthodox Church in Washington Heights on January 23.

Video

Meet Methuselah, the Oldest Living Aquarium Fish

SAN FRANCISCO — Meet Methuselah, the fish that likes to eat fresh figs, get belly rubs and is believed to be the oldest living aquarium fish in the world.

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