US traders seemed to regain their optimism during the first few minutes of today's session, following a day during which markets across the pond yo-yoed wildly.
The S&P 500, which ended yesterday more than three per cent down, rose more than two per cent to 1,931 .5 points in the first minutes of trading, while the Dow Jones rose 1.9 per cent to 16,169.3 points.
However, in a sign markets were still nervous – particularly after China announced a surprise cut in one of its benchmark interest rates in the wake of turbulence which continued into today in Asia – the New York Stock Exchange involved rule 48, a rarely-used rule designed to ease trading.
Meanwhile, in Europe, the FTSE 100 was trading 2.6 per cent higher, hovering just above 6,000, while Germany's Dax was 4.18 per cent higher at just above 10,000, and France's Cac rose four per cent, to 4,558 points.
Analysts have suggested yesterday's fall – during which the Dow briefly fell as many as 1,000 points – was temporary.