NEW YORK: A gauge of global equity markets rebounded in a late-session rally on Tuesday after U.S. Federal Reserve Chair Jerome Powell calmed fears of rising interest rates that have roiled bonds and helped spur assets linked to expectations of a strong recovery.
Copper, a leading indicator of the economic cycle, touched a 9-1/2 year high before paring early gains, while crude settled near break-even. But oil edged up as the Dow and S&P 500 rose into the black and Tesla recouped most steep losses.
Investors have learned to buy the dip when equities drop as little as 3% to 4%, especially as they've been rewarded for doing so the past six months and for a decade, said Dennis Dick, a proprietary trader at Bright Trading LLC.
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