Stocks bounce after battering Broad advance as investors scoop up select issues after previous session's 778 point slump on the Dow on bailout bust.
NEW YORK (CNNMoney.com) -- Stocks bounced Tuesday morning, one day after Congress's failure to pass a $700 billion bank rescue plan triggered a massive selloff that sent the Dow down nearly 778 points, in its biggest single-day point drop ever.
The Dow Jones industrial average (INDU) added 260 points or 2.5% over an hour into the session. The Standard & Poor's 500 (SPX) index rose 3.3% and the Nasdaq composite (COMP) gained 2.8%.
Stocks plunged Monday after the House of Representatives shot down the proposed $700 billion bank rescue plan, surprising investors who had thought that a bipartisan compromise on the deal had been reached over the weekend.
Stocks bounce after battering Broad advance as investors scoop up select issues after previous session's 778 point slump on the Dow on bailout bust.
NEW YORK (CNNMoney.com) -- Stocks bounced Tuesday morning, one day after Congress's failure to pass a $700 billion bank rescue plan triggered a massive selloff that sent the Dow down nearly 778 points, in its biggest single-day point drop ever.
The Dow Jones industrial average (INDU) added 260 points or 2.5% over an hour into the session. The Standard & Poor's 500 (SPX) index rose 3.3% and the Nasdaq composite (COMP) gained 2.8%.
Stocks plunged Monday after the House of Representatives shot down the proposed $700 billion bank rescue plan, surprising investors who had thought that a bipartisan compromise on the deal had been reached over the weekend.