Stocks Surge After Incurring Massive Losses
The Dow Jones Industrial Average surged 569 points Tuesday, posting the single-largest rally in 15 months.
The Dow closed at 24,912.77 Tuesday afternoon, gaining 567 points after losing over 500 points at the opening bell. All three major U.S. indexes fluctuated between gains and losses over a dozen times Tuesday.
The benchmark index was down over 1,500 points at its lowest point Monday, incurring its single-largest loss ever in a trading session. The Dow, S&P 500 and NASDAQ indexes lost roughly eight percent of their respective values Monday, causing many to believe the market was in for a correction.
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Adding to investor concerns, the measure of stock market volatility (VIX) surged over the next month, surging above 50 — the measures highest level since 2015.
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