27 Aug 2015

US share prices rise sharply

10:22 am on 27 August 2015

Shares on Wall Street finished with their biggest rise in four years ending another rocky day of trading on global markets.

The mood was lifted by comments from US Federal Reserve official William Dudley that a rate rise in September seemed "less compelling".

The Dow Jones closed up 3.97 percent at 16,285.64.

Earlier, European stock markets lost ground again as fears persist of a China-led economic downturn.

Dramatic losses and volatility in China have shattered investor confidence and led to sharp falls in Asia and the US over the past several sessions.