The Dow rallied 439.58 points, or 1.6%, to close at 27,940.47. The S&P 500 jumped 2% to 3,398.96. The Nasdaq Composite advanced 2.7% to 11,141.56. Tech shares rebounded, helping the broader market recover from a tough three-day stretch.
Tesla shares rallied 10.9% a day after their biggest one-day sell-off on record. Apple advanced 4% to lead the Dow higher. Facebook, Amazon, Alphabet and Microsoft were also higher. "We were due for a bounce," said one trader. "We had three days of decent selling and these things tend to get a little overextended."
Despite Wednesday's sharp gains, Stanley Druckenmiller thinks investors need to be careful around this market. "Right now, we're in an absolute raging mania," he said on CNBC's "Squawk Box." "Everybody loves a party ... but, inevitably, after a big party there's a hangover."
Weekly jobless claims numbers are set for release Thursday.
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