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Markets Right Now: Dow rises 350, erasing an early plunge

Markets Right Now: Dow rises 350, erasing an early plunge / AP Photo

NEW YORK (AP) -- The Dow Jones industrial average jumped as much as 350 points in morning trading, erasing an early plunge of more than 500.

The wild swings Tuesday marked the third day of volatility in global markets.

U.S. stocks swooned Friday and Monday as investors worried that accelerating inflation and higher interest rates could derail the market's record-setting rally.

Global markets also fell. European indexes were down about 2 percent, while Japan's Nikkei lost 4.7 percent.

The Dow was up 141 points, or 0.6 percent, at 24,483.

The Standard & Poor's 500 index was up 12 points, or 0.5 percent, at 2,662. The Nasdaq composite climbed 40 points, or 0.5 percent, to 7,003.

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