Accra:US and European stock markets saw gains on Friday as bond yields eased, leading to a market recovery after a sell-off earlier in the week caused by rising oil prices and increased borrowing costs.
According to Emirates News Agency, On Wall Street, the S&P 500 rose by 46.35 points, or 0.60 percent, closing at 7,811.71. The Nasdaq Composite experienced an increase of 172.83 points, or 0.64 percent, settling at 27,365.00. Meanwhile, the Dow Jones Industrial Average climbed 429.90 points, or 0.84 percent, to finish at 51,661.54.
In European markets, the STOXX 600 index increased by 1 percent, successfully reversing its losses from earlier in the week. The index had reached its lowest point in nearly four months on Thursday due to investor concerns over surging oil prices and bond yields. Despite the overall upward trend, the telecommunications sector did not follow suit, declining by 2.9 percent to reach an eight-month low.