Wall Street adds to gains following surge in Chinese markets

By DAMIAN J. TROISE
AP Business Writer

Wall Street is adding to its gains Wednesday as markets start to gather hope that there may be better news on the horizon on inflation, the war in Ukraine and other worries that have been keeping investors unsettled. The S&P 500 was up 1.7%, the Dow Jones Industrial Average rose 1.2% and the Nasdaq rose 2.8%. Chinese markets soared overnight after Beijing promised help for that country’s struggling real estate industry and its internet companies. Later in the day the Federal Reserve is expected to raise interest rates for the first time since 2018. Bond yields held relatively stable.