US stocks enjoyed sizable rebound on Tuesday following a three-day rout that wiped a healthy chunk of 2024's market gains.
The tech-heavy Nasdaq Composite (^IXIC) led the day's session, rising 2.2%. The benchmark S&P 500 (^GSPC) followed with a gain of around 2% while the Dow Jones Industrial Average (^DJI) jumped 1.4%, or about 600 points.
Stocks got crushed on Monday, part of a tailspin on Wall Street that served as a boisterous reaction to fresh concern over the health of the US economy and its labor market. The S&P 500 had its worst day since 2022 and capped its worst start to any month since 2002.
The benchmark had shed around 6% in the past three sessions, but Tuesday's rally helped push year-to-date gains to around 11%.
Wall Street's "fear gauge" — the CBOE Volatility Index (^VIX) — touched its highest level since the early days of the COVID-19 pandemic on Monday. On Tuesday, it fell back to earth, to levels seen often in 2022.