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Share prices rebound but end the week lower as a long-awaited rise in rates spurs a revaluation
A Friday bounceback couldn’t save U.S. stocks from their worst week since March, as investors reassessed the value of American companies in the face of a long-awaited rise in interest rates.
Broad-based selling on Wednesday and Thursday sent the Dow Jones Industrial Average down more than 1,300 points in two sessions, shattering months of steady rises in major indexes. On Friday, the Dow recovered some territory, rising 287.16 points, or 1.1%, to 25339.99.