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Stock market news today: Stocks rally to snap 3-day market rout as S&P 500, Nasdaq lead comeback

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Nasdaq Composite,Labor Market,CBOE Volatility Index

US stocks poised for a rebound following a three-day rout that wiped out a healthy chunk of 2024's market gains

US stocks finished Tuesday's session solidly in the green following a three-day rout that wiped a healthy chunk of 2024's market gains. The benchmark S&P 500 and tech-heavy Nasdaq Composite led the day's session, each rising about 1%. The Dow Jones Industrial Average closed up around 0.8%, or roughly 300 points.

On Tuesday, it fell back to earth, to levels seen often in 2022. Some of the market's biggest names also were aiming for a rejuvenation. The "Magnificent 7" stocks lost more than $650 billion in market cap on Monday. On Tuesday, that looked set to change. Nvidia , which led the way down, rose over 3% before the market open. Tesla , Microsoft , and Meta all rose more than 1%. Cryptocurrencies, which weren't spared from the rout, also rose in tandem with the optimism.

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