US stocks surge in afternoon trading, rebounding from slump
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.