AP

How major US stock indexes fared Wednesday

Mar 9, 2022, 2:29 PM | Updated: 2:53 pm

Stocks had their biggest jump since June 2020 Wednesday as a sharp drop in oil prices eased fears that inflation was about to get worse around the globe.

The rally broke a four-day losing streak for stocks but wasn’t enough to erase their losses for the week. The price of U.S. crude oil dropped 12%, the most since November, bringing relief after a sharp runup in crude prices since Russia invaded Ukraine. Big swings have been jerking markets around in recent weeks as investors try to guess how much damage the war will do to the global economy.

On Wednesday:

The S&P 500 rose 107.18 points, or 2.6%, to 4,277.88.

The Dow Jones Industrial Average rose 653.61 points, or 2%, to 33,286.25.

The Nasdaq rose 459.99 points, or 3.6%, to 13,255.55.

The Russell 2000 index of smaller companies rose 53.28 points, or 2.7%, to 2,016.29.

For the week:

The S&P 500 is down 50.99 points, or 1.2%.

The Dow is down 328.55 points, or 1%.

The Nasdaq is down 57.89 points, or 0.4%.

The Russell 2000 is up 15.39 points, or 0.8%.

For the year:

The S&P 500 is down 488.30 points, or 10.2%.

The Dow is down 3,052.05 points, or 8.4%.

The Nasdaq is down 2,389.43 points, or 15.3%.

The Russell 2000 is down 229.02 points, or 10.2%.

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How major US stock indexes fared Wednesday