When Wall Street opens for business today, the Dow Jones industrial average will be starting from 12-thousand-268.
That's a 52-point recovery from Tuesday's precipitous plunge. Investors were calmed by some encouraging comments yesterday by Fed chief Ben Bernanke. He told Congress he expects to see moderate economic growth this year.
Tuesday's 416-point slide for the Dow was triggered by a massive stock selloff in China that spread to Europe and then New York.
Today, major Asian stock markets have suffered still more losses, though not as drastic, amid persistent unease about the world economy. Shares in Tokyo and Shanghai fell by more than one percent. Markets in Australia, Hong Kong and Malaysia had mild losses, while smaller markets in New Zealand and the Philippines rebounded.