Stocks climb after a week of turmoil.

Stocks on Wall Street edged higher on Wednesday, as markets in Europe also showed signs of settling after a week of turmoil.

  • The S&P 500 rose more than 1 percent, rebounding from six consecutive days of losses, the longest streak since the beginning of the coronavirus pandemic in February 2020. The Nasdaq composite also gained more than 1 percent.

  • In Europe, the Stoxx 600 rose slightly, as did Britain’s FTSE Index.

  • The yield on the U.S. 10-year Treasury note, a benchmark for borrowing costs for a wide variety of debt, briefly rose above 4 percent for the first time since October 2008, as investors anticipated that interest rates would rise rapidly as central banks tightened their policies to fight persistent inflation. After its jump, the 10-year yield came down somewhat, to below 3.9 percent.

  • Britain’s central bank announced on Wednesday that it would buy government bonds on “whatever scale is necessary” to restore order in financial markets there. The yields on British government bonds tumbled on the central bank’s intervention, and the pound fell 1 percent against the dollar, to around $1.06.

  • In Asia, the Nikkei 225 closed with a loss of 1.5 percent and the Hang Seng fell 3.4 percent.

  • The price of West Texas Intermediate crude oil, the U.S. benchmark, rose 1.3 percent to around $79.50 a barrel, building on Tuesday’s gains

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