The market has hit another wild market bump
The market hit another big one on Tuesday, as traders pushed prices to record highs, boosted by gains in the Nasdaq Composite Index and Dow Jones Industrial Average.
The Dow soared 8,400 points to 21,838, and the S&P 500 added 2,822 points to 2,979.
A market rally in recent weeks has pushed the Dow past its record high.
The Dow gained more than 4,000 points on Tuesday to 23,521, and a record was set by the market in early 2017 when the market hit a record-high of 31,400.
The S&P 500 rose 3,500 points to 1,856, while the Nasecombe added 2 to its record of 1,037.
Traders have been selling their shares, fearing the market will not return to its previous level of highs.
“The stock market has been on a crazy run,” said John Schreiner, who manages $4 billion in assets.
“There is a lot of fear around.
People are scared of what the Fed will do.”
It was the third day in a row that stocks rallied after a strong trading day, after the Semiconductor Research Corp. rose 1.5 percent.
The Nasdaq surged more than 7 percent after the Federal Reserve signaled it would continue to tighten its monetary policy.
Shares of tech company Apple Inc. soared 3.7 percent to $112.70 after the company announced a $1 billion investment.
Wall Street was boosted by strong reports of new U.S. factory output.
Analysts expected the U.K. to add more than 200,000 jobs in October, but economists warned the jobs figures may be inflated.
On Tuesday, the U,S.
and European equities traded up 0.4 percent.
Meanwhile, the Sysco index fell 1.6 percent.
The Sys was up 1.1 percent.