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Stocks Climb Back from Tuesday Selloff

The S&P 500 rose Wednesday as Wall Street clawed back some of the steep losses suffered in the previous session.

The Dow Jones Industrials surged 150.8 points at 38,423.55.

The S&P 500 index took on 47.36 points, or 1%, to 5,000.53.

The NASDAQ index jumped 203.55 points, or 1.3%, to 15,859.15.

Lyft shares jumped 36% after the ride-hailing company posted better-than-expected earnings in the fourth quarter. Airbnb slipped 1% even as the company beat on revenue expectations in its latest quarter.

Shares of Nvidia nudged 1% higher, sending the chipmaker’s market capitalization briefly above that of fellow “Magnificent 7” member Alphabet’s. This follows Nvidia’s 2% slide on Tuesday after rising Treasury yields sunk technology stocks.

Prices for the 10-year Treasury picked up, lowering yields to 4.27% from Tuesday’s 4.32%. Treasury prices and yields move in opposite directions.

Oil prices sank $1.22 to $76.65 U.S. a barrel.

Gold prices sank $3.50 to $2,003.7

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