Stocks Rise Slightly as Wall Street Tries to Recover After Worst Day Since June 2020

Stocks moved modestly higher on Wednesday as investors tried to find their footing after the biggest one-day drop in more than two years.

The Dow Industrial Average added 106 points, or 0.3%. The S&P 500 gained 0.4%, and Nasdaq Composite ticked up about 0.4%.

Chevron and Merck were among the top stocks in the Dow, gaining more than 1.5% each. Apple added 0.5%.

The Dow sank more than 1,200 points Tuesday, or nearly 4%, while the S&P 500 lost 4.3%. The Nasdaq Composite dropped 5.2%. It was the biggest one-day slide for all three averages since June 2020.

The market moves came after August’s consumer price index report showed headline inflation rose 0.1% on a monthly basis despite a drop in gas prices.

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Source: CNBC