Stocks Jump as Market Turns Positive for the Week

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Investors were optimistic that the troubles at indebted property giant China Evergrande can be contained. The Dow rose more than 500 points.

The U.S. stock market rose sharply Thursday, notching a second consecutive day of gains as investors remained upbeat that trouble with property giant China Evergrande Group can be contained.

The S&P 500 gained 1.2% in 4 p.m. trading, a day after a Federal Reserve policy update sent the stocks gauge to its . The Dow Jones Industrial Average was up 1.5%, or more than 500 points. The technology-focused Nasdaq Composite Index added 1%. All three indexes are now up for the week.

 

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China asks local officials to prepare for 'possible storm' if Evergrande fails, WSJ saysChinese authorities are preparing for the potential downfall of Evergrande, the Wall Street Journal reported Thursday. China will give them a loan for the loans……. LONDON, Sept 23 (Reuters) – Bank of England Deputy Governor Sam Woods said on Thursday that Britain's banks have no major exposures to Evergrande and he does not expect the troubled Chinese property group to 'go badly wrong'.
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