The Nasdaq Composite bid adieu to its worst bear market in over a decade today. A bear market ends when an index rises 20% off of recent lows. The upward move was bolstered by a strong key inflation report which showed a better-than-expected slowdown for prices in the United States. Major tech stocks rose on the news, Facebook parent company Meta was up by 5.8% and Netflix was 6% higher. The S&P 500 also made news on Wednesday, hitting its highest level in three months.

Source: CNN August 11, 2022 05:15 UTC