Business

Snapshot: Bargain hunting lifts stocks after a fall

Advertisement

Investors went hunting for bargains a day after stocks racked up the biggest losses in more than seven months. The buying helped lift major indexes out of the red. The mini-rebound seemed fragile, with the market giving up some early gains by late afternoon. Markets were coming off a 326-point drop in the Dow on Monday — its worst January showing in five years — ignited by disappointing manufacturing data. Portfolio managers seized on the chance to buy, even as many stock watchers said the market could still be in for a correction, meaning a drop of at least 10%. Even with Tuesday’s gains, the Dow is down 6.8% this year, and the S&P 500 is off 5%.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.