Dow rises 900 points in volatile trade

U.S. stocks turned sharply higher on Thursday, a whirlwind reversal after major indexes spent much of the morning deep in negative territory.

Stocks fell in early trading after new data showed inflation remains persistently high, bolstering expectations of continued big rate hikes from the Federal Reserve. At their lows, the Nasdaq Composite had fallen more than 3%, the S&P 500 had fallen more than 2% and the Dow Jones Industrial Average had fallen nearly 2%, according to Dow Jones Market Data.