Wall Street opens higher as some calm returns after the market’s worse loss in almost 2 years

FILE - People pass the New York Stock Exchange on July 30, 2024 in New York. Japan's benchmark Nikkei 225 stock index has lost 12.4% on Monday, August 5, 2024, in the latest bout of sell-offs that are jolting world markets.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 losses from itsThe Dow Jones Industrial Average was up 364 points, or 0.9%, as of 10:15 a.m.

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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