Dow jumps more than 600 points as U.S. stocks end sharply higher Tuesday

The U.S. stock market closed sharply higher Tuesday, with the S&P 500 bouncing from its worst week since March 2020 as investors bought the dip amid concerns of an economic slowdown. The Dow Jones Industrial Average DJIA, +2.15% jumped around 643 points to close more than 2% higher, while the S&P 500 SPX, +2.45% and Nasdaq Composite COMP, +2.51% each gained around 2.5%, according to preliminary FactSet data. Economic data released Tuesday showed that existing home sales in the U.S. fell 3.4% in May, a fourth straight month of declines amid rising mortgage rates.