Stocks Ended with Worst Quarterly Losses in 4 Years

U.S. stocks closed higher on Wednesday, but still ended the month and a quarter with deep losses. The Dow Jones Industrial Average jumped 235.57 points, or 1.47%, to 16,284.70, ended the month 1.5% lower and booked a 7.6% quarterly loss.The S&P 500 gained 35.94 points, or 1.91%, to 1,920.03, booked a 2.7% monthly loss and was down 7% over the quarter. The Nasdaq Composite gained 102.84 points, or 2.28%, to 4,620.17, lost 3.3% over the month and 7.4% over the past quarter.

The International Monetary Fund voiced concern Wednesday about the global economy, weakened by China’s slowdown and facing a potential “vicious cycle” from a looming US interest rate hike.

Twitter’s (TWTR) board of directors plans to name Jack Dorsey the company’s permanent CEO without requiring the him to step down from his post as CEO of payments startup Square, the web site Recode reported on Wednesday.

Oil prices rose on Wednesday on concerns of an escalation in the Syrian war after Russia started air strikes against Islamic State and the approach of a hurricane on the U.S. East Coast kept investors wary. Brent crude oil was up 32 cents at $48.55 a barrel, heading for a 9
percent fall this month.