US equities rebounded Tuesday after last week’s rout erased nearly $2 trillion from the S&P 500. Treasuries retreated.
The S&P 500 added 2.4%, led by energy and consumer discretionary shares, while the tech-heavy Nasdaq 100 surged 2.5% following the long weekend. Revlon Inc. gained 62% in the wake of its Chapter 11 bankruptcy filing, Kellogg Co. was up 2.0% after plans to separate into three companies, and a basket of the most-shorted stocks rose 2.7%. The drop in Treasuries took the benchmark 10-year yield back to 3.3%.