Solid opening for stocks after Monday mayhem - KWWL - Eastern Iowa Breaking News, Weather, Closings

Solid opening for stocks after Monday mayhem

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NEW YORK (AP) -- US stocks bounce, Dow jumps more than 300 points after China interest-rate cut.


NEW YORK (AP) -- Wall Street futures are rallying further after China's central bank cut interest rates to support its economy.

Dow futures have been up by 600 points.

The jump follows a stomach-churning day on Monday, when the Dow plunged more than 1,000 points at one point before finishing down 588.40 points, or 3.6 percent. The Standard & Poor's 500 index slid 77.68 points, or 3.9 percent, into "correction" territory -- jargon for a drop of at least 10 percent from a recent peak. The last market correction was nearly four years ago.

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