Wall Street is making a good case for buying stock in Maalox and Tums.
In another stomach-churning day Tuesday, stocks plunged in the morning, then pulled off a late-afternoon rally, ending the day in positive territory and recouping some of the losses from the market’s two-day plunge.
“The positive for the market is that we came back today in very convincing fashion, but I certainly would not say it’s all done, the Wicked Witch is dead,” said JJ Kinahan, chief investment strategist for TD Ameritrade. “Brace for volatility and strap yourself for the next couple of weeks.”
The Standard & Poor’s 500 index is now up just under 1 percent for the year. It had been up as much as 7.5 percent less than two weeks ago.
The bounce-back no doubt came as relief to many Americans made queasy by the drop in their retirement savings and investment accounts.