Stocks rally after huge sell off

NEW YORK — Wall Street rallied at Tuesday’s opening bell, rebounding from the previous session's nosedive, as investors looked to a Federal Reserve statement for clues on how it may combat the growing perception the nation was headed for recession.

The Dow Jones industrial average was lately up over 200 points, having plunged 635 points Monday after Standard & Poor's downgraded the U.S. credit rating late Friday. The broader market recorded its worst loss since December 2008 at Monday’s close and approached bear market territory.

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