U.S. stocks jumped more than 2% early Tuesday but fell before the close as Wall Street tried to rebound from Monday’s 588-point drop in the Dow Jones industrial average.
However volatility continues to wreak havoc, according to analysts.
Indeed, the Dow, S&P 500 and Nasdaq all dropped; the Dow at one point was up 442 but ended down 205 points, or 1.3% to 15,666.44. The S&P 500 lost 26 points to close at 1867.62.
The Nasdaq lost 20 points to close at 4506.49.
All major indexes were in a major correction on Monday, as we reported. The broader Standard & Poor’s 500-stock index tumbled into official correction mode for the first time since 2011.
Investors were encouraged after five days of selling as China cut interest rates for the fifth time since November in an effort to boost its slowing economy.
In what was initially being dubbed ‘Turnaround Tuesday,’ the Dow was soaring early — up nearly 450 points at its session peak.
However Paul Hickey, co-founder of Bespoke Investment Group reminded investors in a client note not to expect an instant recovery.
To see how specific radio and television stocks performed, see our RBR + TVBR Stock Indexes farther down in our pushmail.
