Investors reclaimed a measure of calm on Tuesday, after a day of frenzied selling around the world over concerns about a potential U.S. recession.
In Japan, where the losses on Monday were largest, stocks bounced higher. The Nikkei 225 index rose 10.2 percent after plunging 12.4 percent the day before. That was the benchmark index’s biggest one-day point decline, larger than the plunge during the Black Monday crash in October 1987.
Stocks in South Korea, which were also down more than 10 percent at one point on Monday, regained just over 3 percent. In Taiwan, where shares had also declined, stocks turned higher.
Markets across Europe posted small gains in early trading on Tuesday, retracing some of their losses from the day before, which were less severe than in other regions.
On Wall Street, futures trading pointed to solid gains when U.S. markets open. The S&P 500 fell 3 percent on Monday, its sharpest daily decline since September 2022.
The sharp jolt to stock markets started last week in Japan, where worries about the state of the U.S. economy were compounded by concerns about the effects a rapidly strengthening yen would have on corporate profits.
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