Major averages rebounded on Tuesday as investors stepped in to buy the dip from the Dow Jones Industrial average's worst day in eight months.
The Dow Jones Industrials revived 611.95 points, or 1.8%, out of Monday's disaster, to register midday at 34,573.99. It was the biggest jump for the Dow in more than a month.
The S&P 500 regained 66.98 points, or 1.6%, to 4,325.47
The NASDAQ heightened 199.75 points, or 1.4%, to 14,475.53.
Many of the stocks that were hit the hardest on Monday, on concerns about COVID-19's delta variant, bounced Tuesday. American Airlines and Delta Air Lines added 3% and 4%, respectively. Royal Caribbean gained 3%, after falling 4% on Monday.
Bank shares are bouncing too as investors continue to monitor bond yields under pressure. JPMorgan, Citigroup and Bank of America are all up more than 2%.
Energy and industrial stocks — two of the hardest hit groups from Monday — also snapped back. Exxon Mobil and Chevron rose 1% apiece. General Electric and Honeywell gained more than 3%.
New COVID cases are rebounding in the U.S. as the delta variant spreads, largely among the unvaccinated. The U.S. is averaging about 26,000 daily cases in the last seven days, more than double the average from a month ago, according to data from the Centers for Disease Control.
Prices for 10-Year Treasurys fell, raising yields to 1.22% from Monday's 1.19%. Treasury prices and yields move in opposite directions.
Oil prices took on 67 cents to $67.05 U.S. a barrel.
Gold prices hiked $1.20 to $1,810.40 U.S. an ounce.