Stocks rebound from 2022 low | British pound recovers | Yields pull back

Foreign currencies and bond markets were in the spotlight for investors.

VIEW IN BROWSER | SUBSCRIBE WED, SEP 28, 2022 EVENING BRIEF AS OF WED, SEP 28, 2022 • 05:01 ET DJIA 29683.74 +1.88% +548.75 S&P 500 3719.04 +1.97% +71.75 NASDAQ 11051.64 +2.05% +222.13 Most Active DOW NAME LAST CHG %CHG AAPL 149.84 -1.92 -1.27% INTC 27.13 +0.24 +0.89% MSFT 241.07 +4.66 +1.97% S&P 500 NAME LAST CHG %CHG AAPL 149.84 -1.92 -1.27% F 12.18 +0.27 +2.27% AMD 68.36 +1.19 +1.77% NASDAQ NAME LAST CHG %CHG AAPL 149.84 -1.92 -1.27% AMD 68.36 +1.19 +1.77% AMZN 118.01 +3.60 +3.15% EDITOR'S NOTE Stocks staged a big comeback Wednesday after the Bank of England announced a bond-buying plan to stabilize markets, and Treasury yields tumbled from multi-year highs.    Currency markets abroad were in the spotlight for investors. The British pound recovered after the Bank of England said it would temporarily purchase long-dated UK government bonds to stabilize its currency.   Meanwhile, the yield on the 10-year U.S. Treasury dropped the most it had since 2020 after briefly touching a key 4% level earlier in the day.    "This looks to me like the market breathing a sigh of relief that interest rates have come back down at least for today," Tim Courtney, CIO of Exencial Wealth Advisors, wrote in a note.   Still, some investors worry that markets have not adequately priced in lower earnings expectations and the impact of aggressive interest rate hikes from the Federal Reserve.   "Our central case is a hard landing by the end of  '23," Stanley Druckenmiller said at CNBC's Delivering Alpha Investor Summit in New York City on Wednesday. "I will be stunned if we don't have recession in '23. I don't know the timing but certainly by the end of '23. I will not be surprised if it's not larger than the so-called average garden variety." Sarah Min | Investing Reporter at CNBC Pro @_sarahmin Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks rebound from 2022 low, Dow closes up more than 500 points and snaps six-day losing streak Hurricane Ian makes landfall in southwest Florida, bringing destructive floods and wind Bank of England intervenes in bond market after historic sell-off Ken Griffin says Fed has not done enough, must continue on its path to reset inflation expectations 10-year yield drops the most since 2020 after touching 4% Stanley Druckenmiller sees 'hard landing' in 2023 with a possible deeper recession than many expect Biden approves $1.1 billion more in military aid to Ukraine; Russia denies Nord Stream sabotage allegations Goldman finds cheap stocks with strong and growing dividend yields for this market turmoil JPMorgan's Erdoes: In this turbulent market, there are opportunities everywhere A single dose of monkeypox vaccine provides some protection against infection, CDC says TOP VIDEO Jim Chanos on Coinbase: It's not a good business model CNBC PRO Cooling demand means raising prices becomes a test of how well companies know their customers SPECIAL REPORTS IRS erred on child tax credit payments for millions of eligible families — but aid was 98% accurate overall, report finds What the first legal challenge to derail Biden's student loan forgiveness plan means for borrowers Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS