NEW YORK, NY (AP) – U.S. stocks surged in afternoon trading, putting the stock market on track for its biggest gain in close to four years.
Stocks are rebounding from a six-day slump that was prompted by concerns about the health of the Chinese economy.
The Dow Jones industrial average climbed 528 points, or 3.3 percent, as of 3:26 p.m. Eastern. The Standard & Poor’s 500 index jumped 59 points, or 3.2 percent, to 1,926. The Nasdaq composite gained 156 points, or 3.5 percent.
Treasury bonds fell, pushing up the yield on the 10-year note to 2.19 percent from 2.07 percent.