S&P 500, Nasdaq 100 Stage Big Comeback After Three-Day Selloff
- Correction of 10% or more is ‘appropriate,’ Jonestrading says
- VIX Index falls after hitting highest since 2020 to start week
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Buyers waded into the stock market on Tuesday following a three-day rout fueled by fears of a US economic slowdown and extreme tech-sector valuations.
The S&P 500 Index and technology-heavy Nasdaq 100 Index each gained 1%. Traders appeared to be less on edge about the prospect of further turbulence, as the VIX Index tumbled after reaching the highest since 2020 on Monday.