Dow jumps more than 400 points in wild reversal as economic comeback plays rally

U.S. stocks reversed from a sharp sell-off and climbed higher in wild session Friday as a rally in bond yields eased, while a stronger-than-expected jobs report boosted optimism for a faster economic reopening.

The S&P 500 last traded up 1% after shedding 1% earlier. The Nasdaq Composite gained 0.5% in the volatile session. At its low of the day, the tech-heavy benchmark dropped 2.6%. The Dow Jones Industrial Average climbed 410 points.

The major averages bounced off their lows as bond yields retreated from their session highs. The 10-year Treasury yield last traded flat at 1.56% after popping above 1.6% to hit a 2021 high following data showing a surge in jobs growth.

The Labor Department…