Stocks Rebound Strongly After Two Days of Market Carnage

Global Markets Continue Last Week's Steep Decline (Credit: Photograph by Spencer Platt — Getty Images)

U.S. stocks rebounded sharply Tuesday as investors jumped back into a battered stock market to seek out bargains a day after Wall Street turned in its worst performance in four years. Markets also got a shot of good news with China's second interest rate cut in two months, but analysts stopped short of declaring that the worst was over. "What we need to see to calm investors is positive economic data points out of China and only when we see that will the rallies be sustainable," said Xavier Smith, investment director at Centre Asset Management. "Right now, it's pretty meaningless," he said of the interest rate cut. Still, the Dow

closing with a near 600-point lossNasdaqinto correction mode over the past two trading days

Stock prices gained in Europe