US stocks Monday ended the day decisively lower on concerns about the Chinese economy but rallied well above their intraday lows as US Treasury yields retreated.
At the closing bell, the Dow Jones Industrial Average sank 139.54 (0.94 percent) to 14,659.86.
The broad-based S&P 500 tumbled 19.31 (1.21 percent) to 1,573.12, while the tech-rich Nasdaq Composite Index gave up 36.49 (1.09 percent) at 3,320.76
Stocks opened firmly lower amid concerns about the Chinese economy. But the indices all came back from their intraday lows, with the Dow finishing more than 100 points above its low.
The yield on the 10-year US Treasury stood at 2.55 percent late Monday afternoon after reaching as high as 2.66 percent earlier.
Peter Cardillo of Rockwell Global Capital also cited comments from some US Federal Reserve officials that emphasized the Fed would not scale back its accommodative policy immediately.
"We're probably getting to the end of this overreaction" to the Fed's comments last week, Cardillo said.