US stocks bounce back

Wall Street launched a massive rebound today, muscling the Dow Jones industrial average up nearly 553 points after driving it down near its lows for the year, as investors decided they did not want to miss out on cheap stocks.

After three days of selling which wiped out about 1 trillion dollars in shareholder value, many investors, though nervous about the economy, appeared convinced the market had priced in enough bad news. So when the Standard & Poor’s 500 index managed to recover from multiyear trading lows, investors swarmed back in.