Stocks explode upward: Dow regains more than 600 points

U.S. stocks emphatically ended their six-day losing streak on Wednesday, with the Dow Jones closing up more than 600 points and posting its third-biggest point gain ever.

The major averages closed about 4% higher for their best day since 2011. The Dow Jones industrial average rose 619.2 points, or 3.95%, to 16,285.64, the S&P 500 gained 72.88 points, or 3.9%, to 1,940.49 and the Nasdaq Composite added 191.05 points, or 4.24%, to 4,697.54.

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The gains erased some of the nearly 2,000 points shaved off the Dow Jones industrial average over the previous six days.

Stocks closed lower by 1.3% overnight in China, even after the central bank there cut interest rates to help the economy. Investor worries about China, a major driver of global economic growth, have driven the furious sell-off in world markets.

In Europe, stocks were slightly higher on Wednesday.

Before Wednesday’s rally, the Dow had lost about 1,900 points from Aug. 17 to Tuesday, and it was down about 14 percent from its all-time high in May — well into what is known as a correction.

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Stocks explode upward: Dow regains more than 600 points