A pair of traders work on the floor of the New York Stock Exchange, Monday, Aug. 5, 2024. BANGKOK —
The Nikkei gained nearly 11% early Tuesday and bounced throughout the day to close up 3,217.04 points at 34,675.46 as investors snapped up bargains after the 12.4% rout of the day before. Elsewhere in Asia, South Korea's Kospi jumped 3.3% to 2,522.15. It had careened 8.8% lower on Monday. On Monday, the S&P 500 dropped 3% for its worst day in nearly two years. The Dow declined 2.6% and the Nasdaq composite slid 3.4%.
The U.S. economy is still growing, so a recession is far from certain. The U.S. stock market is still up a healthy amount for the year, with double-digit percentage gains for the S&P 500, the Dow and the Nasdaq.
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