Wall Street does shock U-turn, Dow Jones jumps 440 points

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NEW YORK, New York – U.S. stocks roared on Wednesday, with all the major indices making solid ground.

The technology sector fared best with the Nasdaq Composite surging 246.99 points or 2.14 percent to 11,791.90.

The Dow Jones industrials jumped 435.98 points or 1.40 percent to 31,581.28.

The Standard and Poor’s 500 rallied 71.68 points to 3,979.87.

As stocks moved higher the U.S. dollar staged a correction. The euro regained parity, last trading Wednesday at 1.0009. The British pound firmed to 1.1535. The Japanese yen edged up to 143.71. The Swiss franc gained to 0.9765.

The Canadian dollar climbed to 1.3120. The Australian dollar advanced to 0.6768. The New Zealand dollar rose to 0.6075.

Elsewhere, in Germany, the Dax advanced 0.35 percent. The CAC 40 added 0.02 percent. In London, the FTSE 100 retreated 0.86 percent.

In South Korea, the Kospi Composite shed 33.28 points or 1.38 percent to 2,376.74.

Japan’s Nikkei 225 dropped 196.21 points or 0.71 percent to 27,430.30.

The Australian All Ordinaries fell 96.63 points or 1.37 percent to 6,959.30.

In New Zealand, the S&P/NZX 50 slid 50.93 points or 0.44 percent to 11,548.30.

Hong Kong’s Hang Seng dived 158.43 points or 0.83 percent to 19,044.30.

In China, the Shanghai Composite was flat, edging up 2.85 points or 0.09 percent to close at 3,246.29.