Equity markets are bouncing back after their biggest drop since the 2008 financial crisis.
U.S. equity markets ebbed and flowed on Tuesday before breaking away with the Dow Jones Industrial Average adding over 1,167 points clawing back from a deficit.
The Dow's point gain was the third-best on record. The S&P 500 and Nasdaq Composite also rallied tacking on nearly 5 percent.
U.S. equity markets ebbed and flowed on Tuesday before breaking away with the Dow Jones Industrial Average adding over 1,167 points clawing back from a deficit.
The Dow's point gain was the third-best on record. The S&P 500 and Nasdaq Composite also rallied tacking on nearly 5 percent.
Meanwhile, energy stocks, which were hammered Monday after an oil-price war broke out between Saudi Arabia and Russia, rallied as West Texas crude surged 10.38 percent to $34.36 a barrel. Oil's plunge of more than 24 percent on Monday was the largest since the outbreak of the 1991 Persian Gulf War.
On the earnings front, Dick’s Sporting Goods reported better-than-expected fourth-quarter results and announced the removal of its hunt category from 440 more stores.
U.S. Treasurys gave up a large portion of Monday's gains, causing the yield on the 10-year note to spike to 0.792 percent. On Monday, the entire yield curve finished below 1 percent for the first time on record.
European markets reversed course with France’s CAC sliding 1.5 percent, Germany’s DAX losing 1.4 percent and Britain's FTSE closing down 0.1 percent.
In Asia, China’s Shanghai Composite led the way, up 1.8 percent, while Hong Kong’s Hang Seng and Japan’s Nikkei added 1.4 percent and 0.9 percent, respectively.
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