The broad S&P 500 index fell as much as nearly 1% earlier in the session before recouping all of that and more, rising 20.38 points, or 0.5%, to 3909.52. Wells Fargo & Co (WFC.N)sharesjumped 2.5% after the lender said it had a prime brokerage relationship with Archegos Capital and that it no longer had any exposure and did not experience any losses. Key BackgroundTestifying before a House committee on Tuesday, Federal Reserve Chair Jerome Powell told lawmakers that the worst of the economic crisis was avoided thanks to swift and vigorous action from Congress and the Federal Reserve, praising both the aggressive stimulus spending and accommodative monetary policy that helped lift the market to new highs during the pandemic. The Dow Jones Industrial Average (.DJI) fell 3.09 points, or 0.01%, to 32,420.06. The 10-year yield fell to about 1.6%, a slide that in recent days had propped up tech stocks that rely on low-cost capital.
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If you want to take some of the recent gains in stock value , you have to take it in bitcoin .
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