Stocks climbed in the afternoon session as Wall Street attempted to rebound from a recent correction, with the S&P 500 rising 0.9%, the Dow Jones gaining over 400 points, and the Nasdaq 100 adding 0.5%.
Weaker-than-expected retail sales data, which showed a modest 0.2% increase in February, fueled speculation that the Federal Reserve could move toward rate cuts later in the year.
However, despite broad market gains, major tech stocks like Tesla (-4.8%) and Nvidia (-1.6%) struggled as investors reassessed their high valuations amid economic uncertainty.
Treasury Secretary Bessent tried to ease concerns, stating that market corrections are “healthy,” though he admitted a recession is still possible.
Investors are closely watching the Fed’s upcoming policy meeting for any signals on how Trump’s shifting trade policies might impact future economic decisions.
Notable gains included Berkshire Hathaway, which climbed 1.5% to a record high,, reinforcing its reputation as a stable investment.
