U.S. stocks closed at an all-time high Friday, another milestone in the market’s remarkable recovery from a springtime plunge caused by fears that the Trump administration’s trade policies could harm the economy.
The S&P 500 rose 0.5%, finishing above its previous record set in February. The key measure of Wall Street’s health fell nearly 20% from February 19 through April 8.
The market’s complete turnaround from its deep swoon happened in about half the time that it normally takes, said Sam Stovall, chief investment strategist at CFRA.
“Investors will breathe a sigh of relief,” he said.
The Nasdaq composite gained 0.5% and set its own all-time high. The Dow Jones Industrial Average rose 1%.
President Donald Trump’s decision Friday to halt trade talks with Canada threatened to derail Wall…
