U.S. stocks closed higher on Tuesday, as the Dow Jones Industrial Average recovered a significant portion of its losses from Monday’s steep sell-off. This came in response to positive market sentiment and the belief that the previous day’s drop might have been an overreaction.
In addition, comments suggesting that policymakers are willing to take actions to support economic growth helped boost the market sentiment. The positive outcome was also aided by strong corporate earnings results, and a rebound in technology and energy sector stocks.
However, the stocks’ progress was limited by continued concerns about inflation and the potential economic implications of the coronavirus Delta variant spread, which sparked Monday’s sell-off in the first place. Given the ongoing uncertainty, investors are advised to remain cautious and keep a diversified portfolio.
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