Bond and stock markets have tumbled this year as inflation continues to surge. The Federal Reserve has already indicated it will need to raise interest rates. The question is: Will that be enough?
The Dow falls more than 500 points as a report says large global banks were involved in transactions flagged as possible money laundering and hopes dim for Congress to pass another relief measure.
The Dow Jones Industrial Average gains 526 points after reports that retail sales rebounded strongly in May and that the Trump administration is preparing an infrastructure plan to boost the economy.
The Dow and other stock indexes plunged as cases surged in several states and the Federal Reserve warned that the pandemic "will weigh heavily on economic activity."
Even as millions are out of work, the stock market has regained much of the ground it lost since March. Investors are peering into the future and seeing an economy that's beginning to recover.
Traders are wearing masks and must undergo a health screening before entering the New York Stock Exchange, which shifted to electronic trading in March because of COVID-19.
The stock market has never seen a month like March, with downs and ups of thousands of points in a day. The Dow has recovered from recent lows, but it has fallen 24% since its record high.