Wall Street rebounds after rout, Nasdaq +3.0%

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The French CAC 40 jumped 1.6 percent and Germany's DAX added 1 percent.

Charts for the entire region were awash with the red that indicates losses, but the declines were mostly in the 2 per cent to 3 per cent range.

Australian shares are also headed for a substantial drop this morning, following the collapse in USA investor sentiment. A correction is when shares drop at least 10 percent from their recent highs.

The tech-heavy index closed up 3%-its biggest one-day gain since March 26-coming off a 4.4% slide that marked its worst session since August 2011.

Declining issues outnumbered advancers for a 3.95-to-1 ratio on the NYSE and a 2.82-to-1 ratio on the Nasdaq.

Wednesday's decline left the S&P and the Dow Jones down 0.7 percent and 0.6 percent for the year respectively.

Netflix stock dropped more than 9 percent, Facebook fell 4 percent, Amazon slid 5 percent and Apple was down 3 percent. Bond prices rose, sending yields lower, as investors seek less risky assets.

Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis, said while he expects further downside in stocks, many investors still appear to be looking for chances to buy.

Several factors dampened investor sentiment overnight - causing the volatility index (VIX) to surge 21.8 per cent to 25.2 points.

Stock markets turned higher in European trading Thursday as investors settled somewhat after steep declines in Asia and the US spurred by worries over trade and the USA economy. Their chief concern is that US and global economic growth has hit its high-water mark for the current business cycle and is already starting to weaken.

Investors moved to the relative safety of United States government bonds, which move inversely to yields, withthe 10-year falling 3.9 basis points to 3.077%, its lowest level in three weeks.

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That, along with worries ranging from rising borrowing costs and bond yields to Italy's budget and upcoming U.S. mid-term elections, sparked a rout on Wall Street yesterday.

On Thursday the stock market looks the way it has looked for most of this year: high-tech and consumer-focused companies lead the way while steadier, defensive stocks that pay big dividends weren't doing much, or lost ground.

Alphabet missed analysts' estimates for third-quarter revenue, while rising expenses trimmed its operating margin for the third straight quarter, fanning concerns about regulatory scrutiny.

TARIFFS TROUBLE: Shares in iRobot gave up 13.5 percent to $79.40 percent after the robotics technology company said tariffs will reduce its profitability in the fourth quarter.

BOTCHED DELIVERY: United Parcel Service slid 5.3 percent to $108.02 after the shipping company reported weak global revenue, while the strong dollar and high fuel prices also hurt its results.

Market experts blamed disappointing outlooks in tech company results for stoking jitters over world economic growth and future corporate profitability.

Texas Instruments, a major chipmaker, slumped 3.6 percent after its results missed forecasts.

Stocks are opening modestly higher on Wall Street a day after a sharp sell-off erased the market's gains for the year. The heaviest losses came from technology companies including chipmakers Tokyo Electron and Taiwan Semiconductor Manufacturing and South Korea's Samsung Electronics.

The Dow Jones Industrial Average climbed 104 points, or 0.4 percent, to 24,689.

Analysts attributed Wednesday's sell-off to fears of economic weakness around the globe that could reduce demand for the products and services from USA companies. Brent crude, used to price global oils, slid 0.4 percent to $76.17 a barrel in London.

The dollar climbed to 112.59 yen from 112.44 yen. The euro rose to $1.1408 from $1.1393.