Transcript for Dow recovers after plunging more than 600 points
wild ride. One day after posting its biggest point gain ever, the market staging its biggest comeback in a decade. The Dow plunging more than 600 points earlier, then rebounding dramatically in the last hour, ending the day up 260 points, closing above 23,000. So, what’s behind the massive swings? ABC chief business correspondent Rebecca Jarvis on Wall Street. Rebecca, help us out here. Reporter: So, Tom, around 2:00 today, it looked like that 1,000-point gain from yesterday was something of a distant memory, but in the span of just 90 minutes, stocked clawed their way to the biggest comeback in a decade. So, what’s going on here? Well, essentially, this is not Normal. These wild swings are not average. But there is a tug of war taking place right now, between those who believe the selloff we’ve seen earlier this year is not meant to be, is not necessary, and those who believe that it is not overblown, that they see next year as being a slowdown. And the tension in that is reflected in the numbers we received today about consumer confidence. A poll showing that consumers feel good about where things stand today, but when it comes to next year, they’re not as certain. Tom? All right, Rebecca Jarvis covering this wild ride for us. Rebecca, thank you.
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