- Wall Street rallies at end of roller coaster week
- Crypto world stabilizes, bitcoin rallies after stablecoin slide
- Oil jumps 4% as U.S. gasoline prices hit record high
- U.S. yields gain as market angst eases a bit
NEW YORK, May 13 (Reuters) – Global shares rose on Friday as Wall Street rallied to end a volatile week of trading, while oil jumped 4% on the back of record-high U.S. gas prices.
Global markets and U.S. stocks were down sharply most of this week as investors grew anxious about the possibility of recession. The S&P 500 index (.SPX) is off nearly 20% from its all-time high in January and was close to a bear market on Thursday.
But investors’ fears over whether U.S. Federal Reserve Chair Jerome Powell can accomplish a “soft landing” – bringing inflation down while keeping the U.S. economy growing – appeared to ease at least temporarily on Friday.
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