Investors came into Tuesday's trading session hoping to get some relief from the short-term declines that the stock market has suffered lately. Unfortunately, early gains proved short-lived, and several major market benchmarks moved back into negative territory amid ongoing concerns about the future of the U.S. economy. As of 1 p.m. ET, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 277 points to 31,968. The S&P 500 (SNPINDEX: ^GSPC) dropped 19 points to 3,973, although the Nasdaq Composite (NASDAQINDEX: ^IXIC) managed to inch higher by 10 points to 11,634.
Even as markets sank, though, a couple of stocks posted extremely strong gains. Both Appian (NASDAQ: APPN) and Biohaven Pharmaceutical (NYSE: BHVN) moved sharply higher early Tuesday afternoon, and what spurred the boost was different from the run-of-the-mill reasons you typically see for stocks moving higher. Read on to see the details below.
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For further details see:
2 Extraordinary Events Sent These 2 Stocks Soaring Tuesday