Market rebounds on bailout revival hopes

Wall Street roared back on Tuesday, a day after its worst sell-off in 21 years, as investors bet Washington would revive a plan to stabilize the U.S. financial sector after Monday's surprise defeat on Capitol Hill. The Dow Jones industrial average...

Wall Street roared back on Tuesday, a day after its worst sell-off in 21 years, as investors bet Washington would revive a plan to stabilize the U.S. financial sector after Monday's surprise defeat on Capitol Hill.

The Dow Jones industrial average jumped 485.21 points, or 4.68 percent, to end unofficially at 10,850.66, based on the latest available data. The Standard & Poor's 500 Index shot up 58.34 points, or 5.27 percent, to finish unofficially at 1,164.73. The Nasdaq Composite Index surged 98.60 points, or 4.97 percent, to close unofficially at 2,082.33.

For the month of September, the Dow unofficially lost 6 percent, while the S&P 500 dropped 9.1 percent and the Nasdaq sank 12.1 percent.

For the third quarter, the Dow unofficially slid 4.4 percent, while the S&P 500 lost 9 percent and the Nasdaq tumbled 9.2 percent.

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