The U.S. stocks ended higher on Friday, snapping a four-day losing streak, after major indexes plunged more than 3 percent in the previous session.
The Dow Jones industrial average added 37.65 points, or 0.35 percent, to 10,771.48. The Standard & Poor's 500 was up 6.87 points, or 0.61 percent, to 1,136.43. The Nasdaq Composite Index rallied 27.56 points, or 1.12 percent, to 2,483.23.
Friday's increase came after both the S&P and Nasdaq fell for four straight days on concerns over European debt crisis and a slowdown the in global economy.
U.S. financial markets took a big hit on Thursday, with both stocks and commodities suffering massive sell-off, as the Federal Reserve's bleak outlook on the economy and poor economic data added to fears of a double-dip recession.
Investors poured out of equity and commodity markets and turned to U.S. bonds and dollar for safety, driving the yield of 10-year Treasury bond to a record low.
According to Kenneth Polcari, a veteran trader at NYSE, investors are now concerned central banks are "running out of tools to prevent a global recession."
Despite of Friday's rally, major indexes still suffered sharp losses for the week. The blue-chip Dow tumbled 6.6 percent on the week, the worst since Oct. 2008.
