Energy and health-care shares led a rebound in U.S. stocks, as the Standard & Poor’s 500 Index followed the steepest selloff since September with its strongest gain in a month, and the Dow Jones Industrial Average rallied more than 220 points.

The S&P 500 rose 1.7 percent to 1,921.64 at 4 p.m. in New York, trimming in the final hour of trading a gain of as much as 2.3 percent.

The recovery accelerated earlier while Federal Reserve Bank of St. Louis President James Bullard answered questions from reporters following a speech in which the policy maker, who was a vocal proponent of raising interest rates, sounded a more cautious tone. He said the latest decline in oil prices may delay the return of inflation to the central bank’s 2 percent target.

 

Source: Bloomberg