Japanese stocks suffered their biggest ever daily loss Monday as fears about a US economic slowdown sent shock waves through global markets. — Some calm is returning to Wall Street, and U.S. stocks are holding steadier after Japan’s market soared earlier Tuesday to bounce back from itsThe Dow Jones Industrial Average was up 47 points, or 0.1%, as of 9:43 a.m. Eastern time, and the Nasdaq composite was 0.3% lower.
Caterpillar veered from an early loss to a gain of 1.7% after reporting stronger earnings than expected but weaker revenue. But Japan’s Nikkei 225 jumped 10.2% Tuesday, following its 12.4% sell-off the day before, which was its worst since the Black Monday crash of 1987. Stocks in Tokyo rebounded as the value of the Japanese yen stabilized a bit against the U.S. dollar following several days of sharp gains.
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