Wall Street bounced back on Tuesday, recouping some recent losses, as investors sought cheap assets after a two-day equities rout sparked by Britain's decision to leave the European Union. US indexes joined stock markets around the world in the rebound after global equity markets had shed USD 3 trillion in value in the two days following Britain's shock vote, according to S&P Dow Jones Indices.
Investors also pointed to solid US economic data as helping to stabilize stocks. Financials and tech stocks, hit hard in the wake of the referendum, were among the top gaining sectors on Tuesday.
"People are starting to say maybe this is going to take longer than they thought and maybe the impacts on the US market won’t be nearly as great as feared," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey. "So I think you’ve seen a bit of bargain-hunting." The Dow Jones industrial average .
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