Stocks closed higher Thursday, erasing steep losses from earlier in the day as strong gains in big-tech shares led to a sharp turnaround.
The Dow Jones Industrials moved ahead 188.27 points, or nearly 1%, to close at 20,087.19.
The broader S&P 500 recovered 11.29 points to 2,409.
The NASDAQ jumped 160.73 points, or 2.3%, to 7,150.58.
Shares of Netflix advanced 5.3%, and Facebook 4.2%. Amazon gained 2.8%.
Among the industries trading in positive territory Thursday was energy, with the S&P sector up more than 6%. Big oil producers like Diamondback Energy and Apache rose more than 11% each as futures contracts tied to the price of West Texas Intermediate crude rallied 23%, its biggest one-day move ever.
Wall Street has been on an unprecedented roller-coaster ride amid the coronavirus turmoil, with the S&P 500 swinging 4% or more in either direction for eight consecutive sessions prior to Thursday.
Prices for the 10-Year U.S. Treasury gained ground, lowering yields to 1.19% from Wednesday’s 1.21%. Treasury prices and yields move in opposite directions.
Oil prices gained $4.92 to $25.29 U.S. a barrel.
Gold prices dropped $5.40 to $1,472.50 U.S. an ounce.