A collective sigh of relief swept across global trading floors on Tuesday as bargain hunters swooped on stocks, stemming a hemorrhage that had been spreading panic among investors.
The Dow Jones and Nasdaq recorded their strongest daily gains in nearly a decade. Tokyo's Nikkei index also soared after the news of the recovery.
The Tokyo stock index and other Asian markets tumbled over uncertainty in the US economy. President Donald Trump's tirade against the Federal Reserve has hit Wall Street hard.
The benchmark Nikkei stock index has fallen on its final trading day of 2018. Other Asian stocks have ended the day in positive territory.
Wall Street's dismal performance has had profound knock-on effects on global markets. Analysts have warned that the downward spiral is likely due to tariff-related effects on US companies, citing rising basic costs.
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