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US Stocks Shake Off Market Jitters; Bonds Fall: Markets Wrap

  • Regional banks end the day higher after days-long selloff
  • S&P 500 stages late-in-day come back; Nasdaq rises 2.3%
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25 Bps Fed Rate Hike Makes Sense Right Now: BofA's GapenSource: Bloomberg
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US stocks rallied into the close as traders wagered the worst of the banking turmoil has passed. Treasuries fell.

The S&P 500 recovered much of its lost gains in the late afternoon session after a Russian fighter jet colliding with a US drone tamped down the initial enthusiasm. The tech-heavy Nasdaq notched its biggest one-day gain in six weeks.