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Wall Street's sharp rally loses its edge

August 25, 2015

Wall Street rallied on Tuesday as investors bought beaten-down stocks a day after fears about China's economy sent the market into its worst slump in four years. Investors drove prices sharply higher from the opening bell but caution set in by the afternoon due to lingering concerns that a slowdown in China could hobble global growth, even after the country's central bank cut interest rates on Tuesday for the second time in two months. "We had a panic yesterday. As people get back in the market, they're questioning what everything is worth, said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

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