Bargain-hunting drives gains for stocks
Investors went hunting for bargains a day after U.S. stocks racked up the biggest losses in more than seven months.
The buying helped lift major stock indexes out of the red Tuesday. Prices of U.S. government bonds fell.The mini-rebound seemed fragile at times, with the market giving up some of its earlier gains by late afternoon.
Markets were coming off a 326-point drop in the Dow Jones industrial average Monday and the blue-chip index’s worst January performance in five years prompted by disappointing news about U.S. manufacturing.
Trading was relatively light for much of the day, picking up by late afternoon.