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

NEW YORK — U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from itsThe Dow Jones Industrial Average was up 480 points, or 1.2%, as of 11 a.m. Eastern time, and the Nasdaq composite was 1.7% higher. The vast majority of stocks were climbing in a mirror opposite of the day before, from smaller companies that need U.S.

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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