Wall Street bounces back from its worst day in nearly 2 years and rallies, as Japanese stocks soar

Japanese stocks suffered their biggest ever daily loss Monday as fears about a US economic slowdown sent shock waves through global markets. — U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back losses from itsThe Dow Jones Industrial Average was up 364 points, or 0.9%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 0.8% higher. The vast majority of stocks were climbing in a mirror opposite of the day before.

Several technical factors may have accelerated the recent swoon for markets, beyond weak U.S. hiring data and other dispiriting U.S. economic reports, in what strategists at Barclays called “a perfect storm” for causing extreme market moves. One is centered in Tokyo, whereThat scrambled trades where investors had borrowed Japanese yen at low cost and invested it elsewhere around the world.

The stock market’s “dip is not a blip,” he warned in a report, and called it “too soon to jump back in.”

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