US stocks surge to at closing bell

Trader Kevin Lodewick works on the floor of the New York Stock Exchange before the opening bell. World stock markets plunged Monday after China's main index sank 8.5 percent, its biggest drop since the early days of the global financial crisis, amid deepening fears over the health of the world's second-largest economy. Credit: Richard Drew/AP

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.

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