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The S&P 500 has rebounded 25% in less than three weeks. Here’s what’s going on

(CNBC) Through Thursday’s close, the S&P 500 has rallied nearly 25% from a low reached on March 23. The broader market average has also retraced half of its initial drop from its record high. The Dow Jones Industrial Average is up more than 28% from its late-March low while the Nasdaq Composite has jumped 19.1% in that time.

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