Wall Street succumbed to its continuing angst today, giving up a sharp advance and turning moderately lower after falling oil prices failed to calm the market’s nervousness about the economy and the financial sector.

Wall Street closed mixed today, recuperating from a sharp plunge as investors snapped up bargain stocks on rumours that a bond insurer rescue plan is progressing and upbeat comments from Cisco Systems and Amazon.

A volatile Wall Street advanced today for the second day in a row, as investors found renewed confidence in a report that Bank of America is close to buying struggling mortgage lender Countrywide Financial.