[Breaking] New York Stock Market on a Rollercoaster Ride... Major 3 Indices Close Higher After 'Sharp Drop → Rebound'

[Asia Economy New York=Special Correspondent Joselgina] The three major indices of the U.S. New York Stock Exchange experienced a rollercoaster ride on the 24th (local time). The three major indices, which plunged sharply from the early session, all rebounded just before the close and ended trading on an upward trend.

On this day at the New York Stock Exchange, the Dow Jones Industrial Average closed at 34,364.96, up 0.29% from the previous session. The Dow index fell more than 1,000 points at one point during the session but narrowed its losses in the afternoon.

The S&P 500 index, centered on large-cap stocks, closed at 4,410.21, up 0.28%. It entered a technical correction phase after falling more than 10% from its intraday high but later rebounded.

The Nasdaq index, focused on technology stocks, recorded 13,855.13, up 0.63%. It had previously slipped more than 4% before closing higher. The Russell 2000 index, centered on small-cap stocks, also recorded a 1.97% rise.

The early session decline on this day is interpreted as a result of heightened geopolitical risks surrounding Ukraine along with concerns about early tightening by the U.S. Federal Reserve (Fed), which led last week's market downturn. However, it is evaluated that the market rebounded due to expectations for the earnings season and the spread of market sentiment that the recent reduction in risk assets was excessive.