As China’s Central Bank cut interest rates Tuesday while also lowering the among of reserves that banks must hold, investors savored the news as a good move to help a slowing economy in that country.

As a result, Dow futures jumped 600 points, or 3.8 percent, to 16,308 while the S&P 500 gained 4 percent to 1,945. The increase followed a steep decline across global markets on Monday.

The gains followed a bounce back in European equities, which included a boost to luxury and fashion apparel companies.


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