Stock market rebounds from worst day of year
BY Staff and Wire Reports
Wednesday, February 06, 2013
2/06/13 at 2:07 AM
The stock market bounced back Tuesday following a surge in U.S. home prices.
The Dow Jones industrial average ended the day 99.22 points higher at 13,979.30, erasing a large part of a loss that had started the week.
On Monday, the Dow dropped 129 points, its worst sell-off of the year so far, as fears about Europe's finances resurfaced. On Friday, the index gained 149 points, closing above 14,000 for the first time since 2007.
The Dow is now 185 points below the record high of 14,164 it reached on Oct. 9, 2007.
Tuesday's advance was driven by new data showing that U.S. home prices rose 8.3 percent in December - the fastest pace in more than six years.