Markets rallied and then tanked at the close

Closing Bell Exchange: Market mood, apathetic

All three major indices rallied throughout the trading session on Tuesday, keeping markets calm after Monday's rout. (Tweet this)

But then, just 30 minutes before the close, the Dow Jones industrial average dropped to end down more than 200 points. All in all, the index rallied 441.5 points on Tuesday, before swinging down by 661.7 points by day's end.

Trader on the floor of the New York Stock Exchange.
Dow, S&P close lower in biggest reversal since Oct. 08

The move south proved to be the biggest reversal to the downside for the Dow and since Oct. 29, 2008. The S&P also posted its first six-day losing streak since July 2012.

The dramatic move in the session's final moments could point to another bloody day for markets on Wednesday.

Here are some of the latest numbers:

  • Cumulative volume traded on Tuesday hit 10.3 billion shares (vs. 13.94 billion shares on Monday).
  • The S&P 500 closed down 12.5 percent from its May high; the Dow ended down 14.6 percent from its May high.
  • The S&P 500 did revise Monday's low (1,867.08 vs. 1,867.01).
  • The Dow was up 2.78 percent at its high on Tuesday.
  • S&P 500 companies lost more than $900 billion in market cap during the two trading sessions this week. Last week, those companies lost $1.1 trillion in market cap. Over the past seven sessions S&P 500 companies lost nearly $2 trillion in market cap.

—CNBC's Gina Francolla, Robert Hum and Evelyn Cheng contributed to this report.