Stocks make monster comeback, up 200

(CNBC) — Stocks made a roaring comeback on Wednesday, bouncing off steep losses stemming from China’s announcement of new tariffs on U.S. goods.

As of 3:49 p.m. ET, the Dow Jones industrial average traded 200 points higher, while the S&P 500 and Nasdaq composite gained 1.2 percent and 1.4 percent, respectively. At its session lows, the Dow fell 510 points, while the S&P 500 and Nasdaq plunged as much as 1.6 percent and 1.9 percent, respectively.

“We have a very emotional tape,” said Jeff Kilburg, CEO of KKM Financial. “When you have so much emotion, you’re going to see some volatile moves.”

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