Stocks rally, Dow adds more than 1,000 points for biggest-ever single-day point gain
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Markets Right Now: US stocks rally, erase big drop in DowNEW YORK (AP) — The latest on developments in financial markets (all times local): 4:00 p.m. U.S. stocks are staging a furious late-afternoon rally Thursday, closing with gains after erasing a 600-point drop in the Dow Jones Industrial Average. The Dow rose 258 points, or 1.1 percent, adding to Wednesday's record gain of 1,086 points. The S&P 500 added 21 points to 2,488. Stocks slumped for most of the day as the selling that had gripped the market for most of December resumed. At its lowest, the Dow was down 611 points and the S&P off by 70.
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