Stocks, oil rebound after prior day’s market rout

Stocks, oil rebound after prior day’s market rout

NEW YORK/LONDON (Reuters) - Oil and global equity markets rebounded on Tuesday after the prior day's steep losses as the world's biggest economies moved to cushion the impact of the coronavirus, but stock gains in Europe failed to hold as investors remained skittish.. Investors hoped Monday's rout marked the low of a downturn that has pushed Wall Street's major indexes close to a bear market - defined as a decline of 20% from recent peaks.. "Investors are trying put a bottom in " said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.. On Wall Street, the Dow Jones Industrial Average rose 949.48 points, or 3.98%, to 24,800.5 the S&P 500 gained 113.32 points, or 4.13%, to 2,859.88 and the Nasdaq Composite added 322.95 points, or 4.06%, to 8,273.63.. MSCI's gauge of stocks across the globe gained 2.03% but the pan-European STOXX 600 index lost 1.14%, solidly in a bear market.. Yields on benchmark U.S. 10-year Treasury debt more than doubled to 0.70% and those on German Bunds jumped around 20 basis points at one point as investors pared some safe-haven holdings, though they were beginning to ease again.. Investors are fully pricing an easing of at