Stocks Rebound on Possible Debt Limit Extension: Markets Wrap
- S&P 500 erases losses of more than 1% in turbulent session
- Market remains volatile amid inflation, energy concerns
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Stocks whipsawed in heavy trading as Republicans were poised to offer Democrats a way to end the debt limit impasse.
The S&P 500 and Nasdaq 100 both gained, erasing earlier losses of more than 1%, after Senate Minority Leader Mitch McConnell said he planned to offer a short-term debt ceiling increase that would last into December.