Stocks stage late rally, erasing early losses

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NEW YORK (AP) — Stocks are rising in a late afternoon rally, erasing an earlier loss that put the S&P 500 index through the threshold indicating a bear market.

The S&P 500 was up 1.4 percent with 10 minutes left in trading Tuesday. It was down as much as 2.3 percent earlier. That put it 20 percent below the high of 1,363 it reached April 29.

Shortly before the close, the Dow Jones industrial average was up 94, or 1 percent, at 10,746. It had been down as much as 250 points earlier.

The Nasdaq rose 52, or 2.2 percent, to 2,387.