U.S. stocks climbed back from steep early losses Tuesday to finish with moderate declines, helped by an upbeat economic assessment from the Federal Reserve.
Analysts said Wall Street also benefited from the sense that U.S. markets were relatively safe compared with much of the rest of the world, with Japan devastated by Friday’s massive earthquake and tsunami and the Middle East facing continuing revolt.
Nysetrader Global upheaval “makes the U.S. a better safe haven,” said Gail Dudack, head of Dudack Research Group in New York.
The Dow Jones industrial average ended down 137.74 points, or 1.2%, to 11,855.42, paring what had been a loss of nearly 300 points at the opening bell.
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