(CNBC) 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 Industrial Average rose 188.27 points, or nearly 1% to 20,087.19. The S&P 500 was up 0.5% at 2,409.39 while the Nasdaq Composite outperformed with a 2.3% surge to 7,150.58. Shares of Netflix and Facebook rose 5.3% and 4.2%, respectively. Amazon gained 2.8%.
Earlier in the session, the Dow was down 721 points, or more than 3%. The S&P 500 briefly fell more than 3% as well.
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