After U.S. stocks' worst day in four years, the Dow Jones Industrial Average jumped more than 300 points shortly after the opening bell Tuesday. The sharp rebound "erases nearly all of yesterday's losses," Reuters reports. The recovery follows China's central bank's decision to cut its key interest rate to support growth.
At the closing bell Monday, stocks had risen from their more than 1,000-point drop in the morning, but still were down about 3.6 percent at 588 points. Analysts say stocks are expected to continue the upward climb throughout the day Tuesday.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Continue reading for free
We hope you're enjoying The Week's refreshingly open-minded journalism.
Subscribed to The Week? Register your account with the same email as your subscription.
-
More than 2,000 dead following massive earthquake in MoroccoSpeed Read
-
Mexico's next president will almost certainly be its 1st female president
Speed Read
-
North Korea's Kim to visit Putin in eastern Russia to discuss arms sales for Ukraine war, U.S. says
Speed Read
-
Gabon's military leader sworn in following coup in latest African uprising
Speed Read
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
